Micron's 300-mm semiconductor fabrication plant located in Lehi, Utah has a new owner after Texas Instruments (TI) agreed to buy the facility for $900 million cash. Micron will also gain a further $600 million from selling assets and tools associated with the facility, taking the total value up to $1.5 billion.
Back in March, Micron announced that it was set to end production of 3D XPoint memory this year following a $400 million loss. A side effect of that decision was the need to sell the company's fab in Lehi, Utah, which it hoped to complete before the end of the year. So Micron's management will be very happy to have found a buyer as we reach the midpoint of 2021.
"The Lehi fab is a great asset and a great team. We are excited about the engineering experience and technical skills the team brings in ramping and manufacturing advanced semiconductor processes," said Kyle Flessner, TI’s senior vice president of technology and manufacturing.
TI intends to use its new fab for 65-nm and 45-nm production of analog and embedded processing products to begin with. Both companies hope to complete the sale before the end of 2021, and Texas Instruments expects the facility to start generating revenue by early 2023. Micron confirmed that anyone currently working at the fab is expected to be offered the opportunity to continue as an employee of TI once the deal is complete.