Micron Technology (MU) said Saturday that it has signed a letter of intent to acquire Powerchip Semiconductor Manufacturing's P5 fabrication site in Taiwan for $1.8 billion in cash.
The acquisition includes a 300,000 square foot fab cleanroom, which the company said it will use to keep up with increasing demand for memory solutions.
The company said the agreement is also intended to establish a long-term relationship between Micron and PSMC for Micron's post-wafer assembly processing, and to support PSMC in its legacy dynamic random-access memory portfolio.
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