Looking ahead to the data center outlook, Micron Technology (Inc.) announced Thursday (Oct. 18) after the U.S. stock market, the joint venture IM Flash Technologies, LLC's Intel Corp. (Intel Corp.) stake, Meguiar intends to buy up.
Sanjay Mehrotra, Metro's president and CEO, said in a press release Monday that the IM Flash acquisition shows Metro's conviction that emerging memory technologies such as 3D XPoint can bring unique differences to the company, and that applications requiring large amounts of data require these technologies as basic solutions.
The deal will end within six to 12 months after the company executes the right to subscribe for Intel's shares from January 1, 2009, when the company will pay $1.5 billion in cash to take over Intel's shares. According to the previous agreement, Meguiar will supply Intel with 3D XPoint memory wafers one year after the end of the transaction. At the end of the deal, IM Flash will become a wholly owned subsidiary of Meguiar and all its employees will be incorporated into Meguiar's R&D and manufacturing team in Li Hai, Utah. The 3D XPoint produced by IM Flash is mainly used for data centers and high-end computers.
Meguiar fell 2.48% to close at $41.30 on the 18th, its February 9 closing low, and rose 0.24% to $41.40 after the session. Intel on the 18 day in the normal disk fell 2%, closed 44.97 U. S. dollars, after the stock price unchanged.