Intel, STMicroelectronics & Francisco Partners join forces to create Numonyx

"Intel have closed a deal with STMicroelectronics and Francisco Partners have to create a semiconductor company called Numonyx"

Search News

 
Press Release
Intel finalize deal with STMicroelectronics & Francisco Partners
 
 
Today Intel issued a press release announcing the company had completed a deal with STMicroelcectronics and Francisco Partners which will see the creation of a new semiconductor company 'Numonyx B.V.' .
 
Intel is set to take on an impairment charge for the first quarter of 2008 for Numonyx, which is being created to deliver, cost-effective, non-volatile memory solutions by using combinations of leading NOR, NAND and RAM memory technologies as well as new Phase Change Memory (PCM).
 
As part of the transaction, Intel has transferred the assets associated with its NOR flash memory business and certain assets related to the company's phase change memory initiatives to Numonyx in exchange for 45.1 percent ownership in Numonyx. ST Microelectronics acquired a 48.6 percent ownership interest in Numonyx. Francisco Partners acquired a 6.3 percent ownership interest in exchange for a cash investment of $150 million. As part of the overall transaction, Numonyx will receive $450 million of debt financing at closing from Intesa Sanpaolo S.p.A and Unicredit Banca d'Impresa S.p.A in addition to a $100 million committed revolving credit facility. The loan has a 4-year term and Intel and STMicroelectronics have each provided Numonyx and the banks with a guarantee of 50 percent of the indebtedness.

Intel estimates that it will record additional non-cash impairment of approximately $300 million related to the assets transferred to Numonyx and other costs associated with this transaction in the first quarter of 2008. Approximately 2,500 Intel employees are joining Numonyx as part of this transaction.
 
 
More details can be found direct on the Numonyx press release.
 
With a fair few staff shifting over and a sizeable sum of money invested it seems Intel have high hopes for Numonyx.
 
Discuss in our forum.
«Prev 1 Next»

Most Recent Comments

28-03-2008, 13:48:19

Toxcity
Bioshock on the silver screen.

News Article.

28-03-2008, 13:53:51

Brooksie
OMFG I love Bioshock.. Movie and MMO i'm deffo getting :)

28-03-2008, 13:59:43

Pseudonym
It was one of those games that was practically a movie anyway. Hope they keep the atmosphere.

28-03-2008, 14:45:38

kataras
would deffo play the mmo, loving bioshock, might actually finish it once more ;D

28-03-2008, 14:56:49

Raging
Hmmm,last i remember EA takeover was just a rumour,they made offers but got turned down.

i sure as hell hope that EA dont take over,they trying to take over GTA as well
hell noe,EA STAY AWAY!

28-03-2008, 16:33:04

PP Mguire
I didnt really like the game but ill prolly try the MMO and watch the movie.

28-03-2008, 17:16:01

Toxcity

Hmmm,last i remember EA takeover was just a rumour,they made offers but got turned down.

i sure as hell hope that EA dont take over,they trying to take over GTA as well
hell noe,EA STAY AWAY!



Agreed... Take2 please stick was the clever and original Rockstar. ;)
Reply
x

Register for the OC3D Newsletter

Subscribing to the OC3D newsletter will keep you up-to-date on the latest technology reviews, competitions and goings-on at Overclock3D. We won't share your email address with ANYONE, and we will only email you with updates on site news, reviews, and competitions and you can unsubscribe easily at any time.

Simply enter your name and email address into the box below and be sure to click on the links in the confirmation emails that will arrive in your e-mail shortly after to complete the registration.

If you run into any problems, just drop us a message on the forums.