Micron to Sell Lehi, Utah, Fab to Texas Instruments
June 30 2021 - 4:09PM
Micron Technology, Inc. (Nasdaq: MU) announced today that it has
entered into a definitive agreement to sell its Lehi, Utah, fab to
Texas Instruments. The economic value for Micron from the sale is
$1.5 billion, comprised of $900 million in cash from TI from the
sales transaction, and approximately $600 million in
value from select tools and other assets. Micron has sold
some of these assets and will retain the remainder to redeploy to
its other manufacturing sites or sell to other buyers.
Micron’s Lehi, Utah, facility has been home to a highly skilled
team with expertise in all aspects of advanced semiconductor
manufacturing. TI will offer all Lehi site team members the
opportunity to become employees upon the closing of the sale and
intends to deploy its own technologies at the site. The sale is
anticipated to close later this calendar year.
“Micron’s Lehi, Utah, facility has a strong history of
technology innovation and leading-edge semiconductor
manufacturing,” said Micron President and CEO, Sanjay
Mehrotra. “We are pleased to have reached an agreement with Texas
Instruments as it is an industry leader and truly values the
talented Lehi team and the capabilities this site offers to deploy
its technology effectively. We are greatly appreciative of the
contributions that the Lehi team has made to Micron, as well as the
collaboration and engagement Micron has had with the local
community.”
Micron announced its intent to sell the Lehi facility in March
2021, at the same time the company confirmed plans to end
production of 3D XPoint technology and pursue new memory solutions
for data centers, enabled by the CXL interconnect. CXL delivers
high-performance connectivity between compute, memory and storage,
addressing increased customer workload requirements driven by the
broad proliferation of artificial intelligence and data
analytics.
Weil, Gotshal & Manges LLP served as legal counsel to
Micron, and Macquarie Semiconductor and Technology served as
transaction advisors.
About Micron Technology, Inc.We are an industry
leader in innovative memory and storage solutions transforming how
the world uses information to enrich life for all. With a
relentless focus on our customers, technology leadership, and
manufacturing and operational excellence, Micron delivers a rich
portfolio of high-performance DRAM, NAND and NOR memory and storage
products through our Micron® and Crucial® brands. Every day, the
innovations that our people create fuel the data economy, enabling
advances in artificial intelligence and 5G applications that
unleash opportunities — from the data center to the intelligent
edge and across the client and mobile user experience. To learn
more about Micron Technology, Inc. (Nasdaq: MU), visit
micron.com.
© 2021 Micron Technology, Inc. All rights reserved. Information,
products, and/or specifications are subject to change without
notice. Micron, the Micron logo, and all other Micron trademarks
are the property of Micron Technology, Inc. All other trademarks
are the property of their respective owners.
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PompenMicron Technology, Inc.+1 (408)
834-1873epompen@micron.comMicron Investor Relations
ContactFarhan Ahmad Micron Technology, Inc. +1 (408)
834-1927farhanahmad@micron.com
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