Numonyx(TM) is New Name for Pending STMicroelectronics and Intel Flash Memory Company
SANTA CLARA, Calif. and GENEVA, July 19 /-- Intel Corporation, STMicroelectronics and Francisco Partners unveiled today the company name of "Numonyx(TM)" for the pending independent semiconductor company announced on May 22. Numonyx, being created from the key assets of businesses that last year generated approximately $3.6 billion in combined annual revenue, will focus on supplying non-volatile memory solutions for a variety of consumer and industrial devices including cellular phones, MP3 players, digital cameras, computers and other high-tech equipment.
"We want the industry to see that we are already hard at work to create a significant, agile and energetic new company and what better way to convey that than to give it a name," said Brian Harrison, vice president and general manager of Intel's Flash Memory Group and CEO-designate for Numonyx. "We are proceeding to our original timeframes and will be excited when we can officially launch the new company to our customers later this year."
Playing off the word "mnemonics" -- the art of assisting or improving memory -- Numonyx is expected to complete its transaction, subject to regulatory approvals and customary closing conditions, in the second half of 2007. As previously announced, the new entity will have its headquarters in Switzerland.
"Announcing our name allows us to begin developing an independent identity that customers and employees will recognize as a leader in innovative and cost-effective system-level memory solutions," said Mario Licciardello, corporate vice president and general manager of STMicroelectronics' Flash Memories Group and COO-designate for Numonyx. "While we are progressing in achieving regulatory approvals, planting the Numonyx flag establishes an important milestone for the company."
About STMicroelectronics
STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today's convergence markets. The Company's shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2006, the Company's net revenues were $9.85 billion and net earnings were $782 million. Further information on ST can be found at www.st.com.
About Intel
Intel, the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live. Additional information about Intel is available at http://www.intel.com/pressroom.
About Francisco Partners
Francisco Partners is a leading global private equity firm focused exclusively on investments in technology and technology-enabled services businesses. With approximately $5 billion of committed capital, Francisco Partners pursues structured investments in technology companies, targeting investments in private companies, public companies and divisions of public companies, with transaction values ranging from $30 million to $3 billion. For additional information, visit www.franciscopartners.com.
Source: STMicroelectronics
CONTACT: Maria Grazia Prestini, +41-22-929-6945, mariagrazia.prestini@st.com, or Michael Markowitz, +1-212-821-8959, michael.markowitz@st.com, both of STMicroelectronics; or Tom Beermann of Intel Corporation, +1-408-765-6855, tom.beermann@intel.com
Web site: www.st.com/
http://www.intel.com/pressroom
http://www.franciscopartners.com/
