Micron Exercises Call Option to Acquire Remaining Interest in IM Flash Technologies Joint Venture
Micron Technology, Inc. (MU)
Last micron technology, inc. earnings: 3/25 04:01 pm
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Source: GlobeNewswire
BOISE, Idaho, Jan. 14, 2019 (GLOBE NEWSWIRE) -- Micron Technology, Inc., (NASDAQ: MU) today announced the company is exercising its right to purchase Intel’s interest in the parties’ joint venture, IM Flash Technologies, LLC (IM Flash). On Oct. 18, 2018, Micron disclosed its intention to exercise the option. “The IM Flash acquisition will enable Micron to accelerate our R&D and optimize our manufacturing plan for 3D XPoint,” said Micron Technology President and CEO Sanjay Mehrotra. “The Utah-based facility provides us with the manufacturing flexibility and highly skilled talent to drive 3D XPoint development and innovation, and to deliver on our emerging technology roadmap.” Micron anticipates that the pending acquisition will have no meaningful impact on overall non-GAAP financial results and foresees no changes to the company’s fiscal 2019 capital expenditures or long-term capital expenditure target. Micron has already consolidated the IM Flash joint venture, as reflected in
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