Flash memory technology provider Spansion Inc. has agreed to aquire Saifun Semiconductors for approximately $368 million. Saifun provides intellectual property solutions for the non-volatile memory market.
The transaction consolidates all MirrorBit and NROM IP, design and manufacturing expertise into a single company, thus it will expand Spansion's product portfolio and launch Spansion into the technology licensing business. Spansion said it intends to drive adoption of MirrorBit beyond the NOR segment into new markets including NAND, DRAM, and systems on a chip.
Saifun's NROM intellectual property forms the cornerstone of Spansion's proprietary MirrorBit technology, which represents nearly one-fourth of the NOR flash memory segment, and generates revenues at a run rate approaching $2 billion per year.