LEHI, Utah (ABC4) – A Texas-based company is purchasing a Lehi factory for $900 million.
The factory is currently owned by Micron Technology, which creates memory and storage technology, and created semiconductors, which are used in numerous kinds of electronic devices.
In March, Micron announced plans to sell its Lehi location by the end of 2021 as the company shifted its focus to “increase investment in new memory products that leverage the Compute Express Link, the recently introduced industry standard interface that enables flexible connection between compute, memory and storage.”
Micron shared a release with ABC4.com, saying in part, “there is insufficient market validation to justify the ongoing high levels of investments required to successfully commercialize 3D XPoint,” the chip manufactured in Lehi.
On Wednesday, Texas Instruments – known not only for their calculators, but its processing chips – announced it signed an agreement with Micron to acquire the Lehi factory.
According to Texas Instruments, this will be the company’s fourth 300-mm fab.
“The Lehi fab is a great asset and a great team. We are excited about the engineering experience and technical skills the team brings in ramping and manufacturing advanced semiconductor processes,” says Kyle Flessner, TI’s senior vice president of technology and manufacturing.
The sale is expected to be completed by the end of 2021 with first revenue expected in early 2023.