Business Journal: Intel Helps Create New Folsom Company

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(Sacramento, CA)
Monday, March 31, 2008
There’s less Intel inside – at least in Folsom. The high-tech giant and STIMicroelectronics have combined their flash memory businesses to create Numonyx, a semiconductor company that has been in the works since last May. More than 400 employees left Intel on Monday and joined Numonyx, which has taken one of seven buildings at Intel’s Folsom campus. Numonyx, already with $3 billion in revenue, is the third-largest company in what is called the non-volatile memory industry, which basically provides memory that keeps its data once the power is switched off. Numonyx is focused on supplying memory technology for customers that make cell phones, MP3 players, digital cameras and other high-tech products. Numonyx opened with about $450 million in debt financing, about one-fourth of the money originally slated to start the company.