Boise, Idaho-based Micron Technology Inc is to expand its board-making subsidiaries by taking control of Minneapolis-based personal computer manufacturer Zeos International Inc. Zeos has a non-binding letter of intent to pay over new Zeos shares for Micron Computer Inc and Micron Custom Manufacturing Services Inc, which are majority-owned by Micron Technology – but the effect of the transaction will be that Micron Technology and employees of the two subsidiaries will hold 89% of the enlarged Zeos equity, and existing Zeos holders will be left with just 11%. For the 12 months to June 30, Zeos made a net loss of $13.4m on sales of $229.1m; for the 12 months to September 1, Micron Computer and Micron Custom Manufacturing had combined unaudited revenues of $400m on which they made $35m net profit.
