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Micron Acquired Inotera Memories of Taiwan for $4 Billion

In DRAM manufacturing
This is a Press Release edited by StorageNewsletter.com on 2016.12.06

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Micron Technology, Inc. completed the acquisition of Inotera Memories, Inc.

It acquired all of Inotera's outstanding shares for consideration worth $0.94 per share.

This represents a transaction value of approximately $4.0 billion, net of cash and debt at Inotera, to acquire the equity not already owned by Micron.

"We are excited to finalize the Inotera acquisition which will generate significant financial and strategic benefits for the company," said Micron CEO Mark Durcan. "We expect immediate accretion to DRAM gross margins, earnings per share and free cash flow along with enhanced operational efficiency as we align Inotera with our global manufacturing operations."

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