[By NBC-1TV H. J Yook]Micron Technology, Inc. (Nasdaq:MU) and LFoundry today announced that the companies have entered into agreements for LFoundry to acquire Micron Technology Italia, Srl. and all of its semiconductor fabrication facility assets in Avezzano, Italy.

Under the agreements, Micron will assign to LFoundry its four-year supply agreement with Aptina to manufacture image sensors at the 200 millimeter Avezzano facility. Micron will also grant LFoundry a restricted technology license. Specific financial terms of the transaction, which is expected to close later this spring, were not disclosed.

“The manufacturing capabilities of Micron‘s fab in Avezzano, Italy, together with our own existing fab and technologies, make this a winning combination and an important part of our strategic goal in building LFoundry’s business into a premier analog mixed signal and specialty foundry partner for our customers,” said LFoundry CEO Günther Ernst.

“This transaction provides a long-term bridge toward a successful future for the Avezzano facility,” said Micron CEO Mark Durcan. “The transaction not only preserves the facility and jobs in Avezzano, but it also supports a stable and long-term wafer supply for Aptina, further enhancing the value of Micron's equity holdings in Aptina.”