Tuesday, August 19, 2003
Kingston Technology disclosed it has invested about $50 million in Japanese DRAM supplier Elpida Memory Inc in exchange for non-voting stock.
David Sun, cofounder and COO of Kingston, called the deal a strategic investment. "We intend to continue our strategic relationship with Elpida, both as a consumer of their products and also as a module assembly and test subcontractor."
Elpida secured an additional $425 million funding in June bringing the total to $687 million. The fund is to be used to invest in a 300-mm wafer fab in Hiroshima, Japan.
The total includes a $100 million investment from Intel Corp and 80 million each from Elpida's two parent companies in the DRAM joint venture, Hitachi Ltd. and NEC Corp.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
