Dallas, Texas 08/12/2013 (Financialstrend) – It is projected that Micron Technology Inc. (NASDAQ:MU) would shortly wrap up the processes connected to the acquirement agreement of Elpida 100 Equity.
Whilst the contract for this transaction was brought into action early during July this year, it is expected that the final authorization from the District Court of Tokyo would be obtained preferably to shut the acquirement. In addition, Micron Technology Inc. (NASDAQ:MU) is also projected to move ahead with the conclusion of acquirement of approximately 24 per cent of the shares in the Rexchip Electronics Corporation and some other associated firms.
As per recent reports, it had been stated that there had been a total declination in the demand for the NAND flash storage devices fabricated by the firm.
This down slope in demand had majorly been attributed to the reduction in the sale facts of mobile phones during the preceding quarterly period and thus the fiscal performance of the well known company for the quarterly period had also witnessed a decline.
In recent times, it was declared that Warren East, who had been functioning as CEO of ARM Holdings PLC had been nominated to Micron Technology Inc.’s (NASDAQ:MU) board.
The scrip of Micron Technology Inc. (NASDAQ:MU) had ruled positively on Thursday’s trading session to exhibit gains of 1.01 per cent and had marked its closure at $13.95 per scrip.
Micron completes $2 billion purchase of chip provider to Apple
Micron Technology Inc. (NASDAQ:MU) has fulfilled the acquirement of Japan-based Elpida, instantly making it one of the major dealers of mobile silicon chips for devices such as the iPad, Nexus 7 as well as iPhone.
The contract, anticipated at around $2 billion, had been taking place since July last year.
“Making use of its highly developed technologies, Elpida has built a sturdy attendance in Mobile DRAM, directing cellular handsets as well as tablet computers,” Micron Technology Inc. (NASDAQ:MU) stated in a declaration.