Micron Acquires Avago Technologies' Image Sensor Business
Posted on: Monday, 11 December 2006, 18:00 CST
Enhancing its position as the world's leading supplier of CMOS image sensors, Micron Technology, Inc. (NYSE:MU), today announced the acquisition of Avago Technologies' image sensor business.
The acquisition provides Micron with an experienced imaging team, select imaging products and intellectual property relating to Avago's image sensor business. The Avago imaging team joining Micron consists of about 90 employees, mostly engineers, from Corvallis, Ore.; Fort Collins, Colo.; San Jose, Calif.; and Penang, Malaysia. The acquisition totaled approximately $53 million, plus contingent payments payable to Avago if certain milestones are met.
"The Avago imaging team is one of the pioneering groups in CMOS imaging, and the talented team further bolsters Micron's leading position in the industry," said Bob Gove, vice president of Micron's imaging group. "Micron image sensors are in one in three camera phones in the world today, and we're advancing in other key imaging market segments including automotive, security, consumer electronics, medical applications and more. It's an exciting time for us, and the Avago team will immediately strengthen our business potential."
Micron's overall CMOS image sensor portfolio offers designers of virtually every image-capture application the flexibility, speed, resolution, feature set and innovative thinking to develop high-quality products. Micron's portfolio of CMOS image sensors are used in a variety of applications that span the mobile, consumer, medical, automotive, commercial, industrial and high-speed markets. Additional information about Micron Imaging can be found at www.micron.com/products/imaging.
Micron Technology, Inc., is one of the world's leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets DRAMs, NAND flash memory, CMOS image sensors, other semiconductor components, and memory modules for use in leading-edge computing, consumer, networking, and mobile products. Micron's common stock is traded on the New York Stock Exchange (NYSE) under the MU symbol. To learn more about Micron Technology, Inc., visit www.micron.com.
Micron and the Micron orbit logo are trademarks of Micron Technology, Inc. All other trademarks are the property of their respective owners.
Source: Business Wire
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