Lexar-Micron merger approved by shareholders

Incoming reports say that a majority of Lexar Media Inc. shareholders have finally given their approval for the flash memory card maker’s acquisition by Micron Technology. The deal is worth around $801 million.

This deal is expected to strengthen memory-chip maker Micron, as they would now gain the technical know-how of their rivals Lexar.

The deal was approved by investors representing owners of more than half the shares of the company. Flash memory market is growing at a fast pace with the ever-rising sales of digital devices like cameras and mobile phone.

Micron representative Daniel Francisco spoke about this new development: “Together with our NAND designs, technology, manufacturing capability and distribution channels, Micron is in a strong position to serve the flash storage requirements of the consumer electronics and enterprise segments.”

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