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Semiconductors - Thursday, March 1, 2007

Taiwain Flash Memory Maker PowerTech Raises $65M From Intel

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Taiwan's largest flash memory maker, Powertech, has received a $65M investment from Intel. Intel Capital is making the investment by buying part of a NT$3.5 billion convertible bond offering that Powertech priced in the middle of February. The acquisition is aimed at expanding Intel's Nand flash memory business, giving it access to components and the supply chain. Nand flash is used to store data such as music and photos in MP3 players, digital cameras and other consumer electronics.

Intel did not say how large a stake it will own in Powertech after the investment.

Read - Intel to invest $65 mln in Taiwanese memory-chip tester Powertech

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