Tuesday, June 2, 2009
Micron To Sell Stake In Aptina To Riverwood, TPG
Struggling computer memory manufacturer Micron Technology Inc. announced Monday that it has agreed to sell a majority interest in its San Jose-based imaging solutions business to a pair of private equity firms. Financial terms of the deal, which Micron said it expects will close within the next two months, were not disclosed. According to Micron, it will retain a 35 percent stake in Aptina Imaging Corp., which only recently (October 2008) became a wholly owned Micron subsidiary. Micron noted that Aptina's new majority owners, Riverwood Capital and TPG Capital, have pledged to contribute "significant" primary capital to Aptina's balance sheet. Micron also said that it will continue to make products and provide services for Aptina. Micron Technology is headquartered in Boise, Idaho.