IM Flash

Earlier this year, Micron announced their intention to buy out Intel's stake of their memory technology joint venture, IM Flash Technologies. Now, as the process gets underway, Micron is disclosing more concrete details about the transaction. According to the company's latest filing, Micron will pay Intel approximately $1.3 billion to $1.5 billion for their stake and associated debt, with the expectation of closing the deal by the end of October. Under the terms of the joint venture deal between Intel and Micron signed in 2005, Micron controls 51% of firm and has a right to buy the remaining share under certain conditions. Intel previously sold Micron its stakes in IM Flash's fabs in Singapore and Virginia back in 2012, which left the IM Flash joint...