THE REUTERS – Texas Instruments Inc announced on Wednesday that it will purchase Micron Technology Inc’s facility in Lehi, Utah, for $900 million in order to expand its production capacity. Micron announced in March that it would sell the plant, confirming plans to stop producing a certain type of memory chip that was created there exclusively.
Texas Instruments said it aims to implement its own technologies in Lehi, and that workers at the site will have the opportunity to work for the company.
Micron’s stock was down approximately 2% in extended trade, while Texas Instruments’ stock was practically flat.
In a statement, Texas Instruments Chief Executive Officer Rich Templeton said, “This investment… is part of our long-term capacity planning.”
Micron, on the other hand, intends to focus its research efforts on Compute Express Link, a new, speedier industry standard for connecting memory chips to computation chips.
(In Bengaluru, Praveen Paramasivam reported; Ramakrishnan M. edited.)/n
