As part of an expanded partnership deal, Intel has agreed to sell its stake in two flash wafer factories to Micron for approximately $600 million --the book value of Intel's share. In exchange, Micron has agreed to supply Intel with NAND flash memory from its facilities.
The expanded partnership agreement is aimed at "improving the efficiency of the joint venture."
The wafer factories being sold to Micron are IM Flash Singapore and IMFT's assets in Manassas, Va.
The IMFT joint venture NAND manufacturing facility in Lehi, Utah will continue to operate with minimal changes to operations, the companies said.
Lucas Mearian covers storage, disaster recovery and business continuity, financial services infrastructure and health care IT for Computerworld. Follow Lucas on Twitter at @lucasmearian or subscribe to Lucas's RSS feed . His e-mail address is firstname.lastname@example.org .
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This story, "Intel sells flash factories to Micron for $600M" was originally published by Computerworld.