February 28, 2012, 12:49 PM — 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.
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