Inotera Memories, a joint venture between Micron Technology and Nanya Technology, is currently soliciting equity investment from Intel through its planned issuance of global depositary receipts (GDRs) or new shares through private placement, industry sources have claimed.

The investment from Intel may allow Inotera to grab contract manufacturing orders for NAND flash chips from Micron, according to sources.

Inotera has declined to comment on the claims. The company last week approved a plan to issue GDRs equivalent to a total of up to 800 million shares, and the funding will mainly be utilized for its technology transition to Micron's 50nm stack process during second-half 2009.

The sources believe that Inotera's attempt to attract Intel's investment is aimed at eventually getting access to Micron's NAND flash process technologies, in order to be more eligible for financial aids from the Taiwan government. Inotera, along with Nanya, has been reportedly seeking state funds of up to NT$30 billion (US$914 million).

Intel and Micron have jointly advanced development of their NAND flash process technology to 34nm, via joint venture IM Flash Technologies.

Taiwan's economics ministry on July 21 disclosed key conditions that would put the island's struggling DRAM makers on an equal footing with Taiwan Memory Company (TMC) in terms of access to government investment. Applicants have to submit required documents together with their "industry-restructuring" proposals by October 21, 2009.

By: DocMemory
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