Texas Instruments to buy Micron’s Utah factory for $900 million

June 30 (Reuters) – Texas Instruments Inc (TXN.O) will buy Micron Technology Inc’s (MU.O) factory in Lehi, Utah, for $900 million to boost its production capacity, the Dallas-based chipmaker said on Wednesday.

Micron in March had said it would sell that facility, as it confirmed plans to end production of a certain type of memory chip made there exclusively.

Texas Instruments said it plans to deploy its own technologies at Lehi, adding that it would offer workers at the site the opportunity to become its employees.

Shares in Micron were down about 2% in extended trading, while those in Texas Instruments were nearly flat.

“This investment … is part of our long-term capacity planning,” Texas Instruments Chief Executive Officer Rich Templeton said in a statement.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.