Micron Technology snaffles up Numonyx

America's biggest memory maker, Micron Technology said it has agreed to buy flash-chip maker Numonyx Holdings for about $1.27 billion.

Numonyx is owned by Intel, STMicroelectronics and Francisco Partners. And, according to a statement yesterday, Micron will issue 140 million common shares to the three.

Micron has put aside more shares to add to the pile, should the share price be negatively impacted.

The transaction gives Micron a broad portfolio of DRAM, NAND and NOR memory products. It also gains increased manufacturing facilities and access to Numonyx’s customer base.

"We believe the opportunity for Numonyx to join with Micron will deliver a clear advantage for our customers and our employees," said Brian Harrison, president and CEO of Numonyx. "It is good for Numonyx and good for Micron," he said.