Date: 11/12/2016

Micron completes acquisition of Inotera Memories

Micron Technology has completed the acquisition of Inotera Memories, Inc. Micron acquired Inotera for approximately $4.0 billion.

"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."

Inotera Memories was a joint venture between Nanya Technology Corporation and Infineon. Before this acquisition itself, Micron had access to all of Inotera's manufacturing output based on market pricing.