SANTA CLARA, Calif., 23 May 2007. STMicroelectronics, Intel, and Francisco Partners have entered into a definitive agreement to create a new independent semiconductor company from the key assets of businesses which last year generated $3.6 billion in combined annual revenue. The new company's strategic focus will be on supplying flash memory solutions for a variety of devices, including high-tech equipment.
The new company will combine research and development, manufacturing, and sales and marketing assets of Intel and STMicroelectronics into a worldwide structure with the scale to produce cost-effective and innovative non-volatile memory solutions.
With STMicroelectronics and Intel contributing more than 40 years of combined experience in non-volatile memory technology development, including next-generation phase-change memory, the company will be well positioned to both serve its customers with complete memory solutions and accelerate the move to future non-volatile memory technologies.
The new company, to be managed by Brian Harrison as CEO-designate and Mario Licciardello, currently corporate vice president of ST's Flash Memories Group as COO-designate, will be headquartered in Switzerland and incorporated in the Netherlands with nine main research and manufacturing locations around the world and approximately 8,000 employees.
