2015/12/14
Nanya Plans to Acquire Micron’s Equity, Nanya Enter into an Agreement to License Micron’s 1X and 1Y Technology Nodes Taoyuan, Taiwan, December 14th, 2015 – The Board of Directors of Nanya Technology Corporation (TWSE: 2408, “Nanya”) has approved the following resolutions:
1. Nanya Technology will support Micron Semiconductors Taiwan Co. Ltd. (“Micron Taiwan”) to acquire Inotera memories Inc. (“Inotera”) as a solely owned subsidiary of Micron Taiwan for NTD 30 per share through Share Swap Transaction 2. Nanya Technology plans to invest up to NTD 31.5billion in Micron Technology, Inc. (“Micron”) to acquire Micron’s equity 3. Nanya and Micron have signed 1x and 1y technology transfer & license option MOU
Nanya Technology will support Micron Taiwan to acquire Inotera as a solely own subsidiary for NTD 30 per share through Share Swap Transaction. Under the agreement, Nanya Technology will sell its 24.2% of Inotera ownerships for NTD 47.6 billion to Micron.
To further enhance both Nanya and Micron’s strategic relationships, Nanya plans to invest up to NTD 31.5 billion to acquire Micron’s private placement shares. The transactions are expected to close in the middle of 2016. The transactions are subject to certain conditions, including approved by Inotea’s shareholders and Governmental approvals. Nanya Technology has entered into a memorandum of understanding (MOU) with Micron Technology to have option rights to license its 1x and 1y DRAM technology nodes.
“Micron and Nanya have enjoyed a strong relationship over the years, and the agreements extend our strategic relationship while also providing further value to both companies and their shareholders,” said Micron CEO Mark Durcan.
“Nanya and Micron have entered into a new era of strategic alliance relationships. By becoming one of its major share ownerships in Micron, and entering cooperation in future technology nodes, will create Win-Win situation for both Nanya and Micron,” said Nanya Technology’s President, Dr. Pei Ing Lee.
Nanya Technology Corporation, a member of the Formosa Plastics Group, is industry leading pure-play consumer Memory Company, focusing on research and development, design, manufacturing, and sales of consumer and Low Power DRAM products. Nanya plans to enlarge market share in the high value-added DRAM market segment. NTC’s common stock is traded on the Taiwan Stock Exchange Corporation (TWSE) under the 2408 symbol. The company currently owns 300mm fabrication facility in Taiwan and converts over 90 percent of operating 30nm stack process technology. Further information is available athttp://www.nanya.com。