Mergers and Acquistions News
Categories: Semi-Conductors, Hardware, Software
June 1st 2010, 14:53PM
South Korean memory chip giant Hynix is to buy out shares of its partner Numonyx in their joint plant in China, in a deal worth over £300 million.
Hynix, which is the world's second-biggest manufacturer of memory chips and semiconductors, will acquire all of the shares in the Chinese unit after Numonyx was taken over by US firm and competitors Micron Technology.
A Hynix spokeswoman told the Wall Street Journal: "It's true that the Numonyx's technology had helped us to safely enter the NAND flash memory market, but we now have secured a competitiveness in the NAND flash segment, so ending our partnership with Numonyx won't hurt our business at all."
The deal will should take about three months to finalise and needs approval from Chinese authorities, according to Reuters.
Meanwhile, Hynix has announced that it plans to raise its capital expenditure by nearly £2 billion to take adavantage of growing demand for memory chips.
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