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From the News Desk
Tuesday, 14. August 2007
EU Approves Intel, STMicro Flash Memory JV
The European Union has approved the joint venture of flash memory units of Intel and STMicroelectronics. The flash that these companies make is used in mobile phones, digital cameras and music players.
The chipmakers, based on either side of the Atlantic Ocean, will form a new company with private equity firm Francisco Partners as a backer. The new company will acquire the assets of Intel, based in the US and Swiss chipmaker STMicro's NOR flash businesses, a technology that has been steadily losing ground to less expensive NAND flash memory.
The European Commission said that the joint venture would not cause antitrust problems, saying its market investigation found that strong rivals existed for both types of flash memory and customers would be able to choose from a sufficient number of alternative vendors.
The chipmakers, based on either side of the Atlantic Ocean, will form a new company with private equity firm Francisco Partners as a backer. The new company will acquire the assets of Intel, based in the US and Swiss chipmaker STMicro's NOR flash businesses, a technology that has been steadily losing ground to less expensive NAND flash memory.
The European Commission said that the joint venture would not cause antitrust problems, saying its market investigation found that strong rivals existed for both types of flash memory and customers would be able to choose from a sufficient number of alternative vendors.
