Boise, ID Micron Technology, Inc. announced the acquisition of Avago Technologies' image sensor business.
The acquisition provides Micron with an experienced imaging team, select imaging products, and intellectual property relating to Avago's image sensor business. The Avago imaging team joining Micron consists of about 90 employees, mostly engineers, from Corvallis, Ore.; Fort Collins, Colo.; San Jose, Calif.; and Penang, Malaysia. The acquisition totaled approximately $53 million, plus contingent payments payable to Avago if certain milestones are met.
"The Avago imaging team is one of the pioneering groups in CMOS imaging, and the talented team further bolsters Micron's leading position in the industry," said Bob Gove, vice president of Micron's imaging group. "Micron image sensors are in one in three camera phones in the world today, and we're advancing in other key imaging market segments including automotive, security, consumer electronics, medical applications and more. It's an exciting time for us, and the Avago team will immediately strengthen our business potential."
SOURCE: Micron Technology