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Intel, STMicro flash venture
- Wednesday, May 23 - 2007 at 07:48
Intel and STMicro are merging their flash memory businesses to form the world's largest memory chip maker for mobile phones, Bloomberg reports. Both the flash businesses were previously unprofitable. The new company will have $3.6bn in annual sales. STMicro will hold 48.6%, Intel will hold 45.1% and Francisco partners will invest US$150m and own 6.3%.
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James McInerney, News EditorWednesday, May 23 - 2007 at 07:48 UAE local time (GMT+4)
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This article was updated on Sat Jun 09 2007.
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