Micron Selling Wafer Plant to LFoundry

On Monday, Micron Technology (NASDAQ: MU  ) announced that it has entered into an agreement to sell German specialty semiconductor maker LFoundry its Micron Technology Italia, or MTI, subsidiary, along with all of its semiconductor fabrication facility assets in Avezzano, Italy. Financial terms of the sale were not disclosed, although the parties did say that they expect to close the sale this spring.

As part of the deal, Micron is assigning LFoundry the rights to a four-year supply agreement whereby MTI supplies CMOS camera-chip maker Aptina Imaging with image sensors. LFoundry will also receive a restricted technology license to manufacture the chips.

Micron is itself a shareholder of Aptina, along with private-equity firms Riverwood Capital, TPG Capital, and Walden International.

Micron shares declined 1.1% in Monday trading, closing at $7.93.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2277305, ~/Articles/ArticleHandler.aspx, 12/17/2014 11:05:01 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement