Texas Instruments Incorporated completed the acquisition of 300-mm semiconductor factory in Lehi, Utah from Micron Technology, Inc. (NasdaqGS:MU).
October 21, 2021
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Texas Instruments Incorporated (NasdaqGS:TXN) signed a definitive agreement to acquire 300-mm semiconductor factory in Lehi, Utah from Micron Technology, Inc. (NasdaqGS:MU) for $900 million on June 30, 2021. The consideration for the acquisition was paid in cash. Under this transaction, Micron has sold some of these assets and will retain the remainder to redeploy to its other manufacturing sites or sell to other buyers. Texas Instruments will offer all Lehi site team members the opportunity to become employees upon the closing of the sale and intends to deploy its own technologies at the site. The sale is anticipated to close by the end of 2021. Dov Kogen, Eric Remijan, Paul Wessel, Steven Margolis, Edric Itchon, Olivia Greer, Alexa Chu Clinton, Annemargaret Connolly, Thomas Goslin, Timothy Welchm, Craig Adas, Joseph Pari, Karen Ballack, Jeff White, Vadim Brusser and Nicholas Pappas of Weil, Gotshal & Manges LLP acted as legal advisors to Micron and Macquarie Semiconductor and Technology served as transaction advisors. Scott Cohen and Robert Cardone of Shearman & Sterling LLP acted as legal advisors to Texas Instruments Incorporated in the transaction.
Texas Instruments Incorporated (NasdaqGS:TXN) completed the acquisition of 300-mm semiconductor factory in Lehi, Utah from Micron Technology, Inc. (NasdaqGS:MU) on October 22, 2021. ATREG, Inc. acted as financial advisor to Texas Instruments.
Texas Instruments Incorporated specializes in the design, manufacturing and marketing of semiconductors. Net sales break down by family of products as follows:
- analog circuits (74.4%): operational amplifiers, audio amplifiers, interface circuits, data converters, power management circuits, logic integrated circuits, etc.;
- processors (19.2%): microprocessors, digital signal processors, microcontrollers, etc. for telecom applications (telephones and cellular infrastructures), and automobiles;
- other (6.4%): primarily graphic calculators et wireless connectivity products.
Net sales are distributed geographically as follows: the United States (33.2%), Europe/Middle East/Africa (26.5%), China (18.8%), Japan (10.2%), Asia (9.8%) and other (1.5%).
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