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August 2, 2013

Micron acquires Apple supplier for $2bn

Deal for Elpida makes Micron second largest memory chip maker in the world.

By CBR Staff Writer

A $2bn deal for one of Apple’s suppliers has made Micron the second largest memory chip maker in the world.

The acquisition of Japanese DRAM maker Elpida ensures Micron climbs ahead of its rival, SK Hynix.

Apart from giving Micron 100% ownership in Elpida, the acquisition also gives the company a 300mm DRAM fab in Hiroshima, Japan, and about 65% ownership interest in Rexchip, according to the company.

CEO Mark Durcan told Bloomberg News that he believed that the memory industry would see better days ahead.

"I believe that Micron, to a greater extent than ever before, controls its own destiny," he added. "We have enough scale, we have enough resources."

Elpida had filed for bankruptcy in early 2012, after going through five unprofitable quarters and ending up with liabilities worth $5.5bn.

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