Intel launches flash memory operation

Chip maker creates new flash memory powerhouse Numonyx
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Intel has collaborated with Swiss based ST Microelectronics to create a new flash memory operation called Numonyx, reported Hexus.

The firm, of which Intel will own 45.1 per cent, will produce NOR and NAND flash memory hardware, and is valued at $2.38 billion.

Details are currently thin on the ground, but it has been reported around 2,500 workers from Intel will be transferred to the new venture.