May 10, 2010 (FinancialWire) – Chipmaker Micron Technology, Inc., (NASDAQ: MU) said it has completed its acquisition of Numonyx B.V., a maker of memory chips in an all stock transaction valued at around $1.2 billion.

Under the agreement, Micron issued around 138 million shares of Micron common stock to Numonyx shareholders, Intel, STMicroelectronics, N.V. and Francisco Partners, and assumed outstanding restricted stock units held by Numonyx employees.

Numonyx was started by Intel, STMicro and Francisco Partners in 2008.

Steve Appleton, chairman and CEO of Micron acquisition, said that the deal builds on his firm’s position, “as one of the world's leading memory companies with increased scale, a broader product portfolio and industry-leading technology."

The transaction strengthens Micron's portfolio of DRAM, NAND and NOR memory products. Micron said that it also gains increased manufacturing and revenue scale along with access to Numonyx's customer base, providing opportunities to increase multi-chip offerings in the embedded and mobile markets.

As of December 31, 2009, Numonyx reported net assets of $1.3 billion and cash and cash equivalents, net of debt to unrelated parties of $70 million. In the fourth calendar quarter, Numonyx generated $42 million in free cash flow based on quarterly revenues of around $550 million.

Idaho-based Micron Technology is a provider of semiconductor solutions. The firm manufactures and markets a range of DRAM, NAND and NOR flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, embedded and mobile products.

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