Taiwan-based Nanya Technology has announced plans to invest up to NT$31.5 billion (US$958 million) in Micron Technology to acquire the US firm's equity. The planned investment has been approved by Nanya's board of directors.

The investment is to further enhance Nanya's tie with Micron, Nanya indicated. Nanya will make the investment to buy Micron's shares through private placement, which is expected to complete in the middle of 2016.

Nanya also expressed support for Micron Semiconductors Taiwan looking to acquire Inotera memories as a solely owned subsidiary of Micron Taiwan for NT$30 per share through a share-swap transaction. Nanya Technology added the company will sell its 24.2% stake in Inotera to Micron for NT$47.6 billion.

In addition, Nanya and Micron have entered into a memorandum of understanding (MOU) to have option rights to use Micron's 1x and 1y DRAM technologies, both companies announced.

"Nanya and Micron have entered into a new era of strategic alliance relationships. By becoming one of its major share ownerships in Micron, and entering cooperation in future technology nodes, will create Win-Win situation for both Nanya and Micron," said Nanya president Pei Ing Lee.

By: DocMemory
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