Winbond buys stake in Silicon Valley-based NexFlash

Winbond buys stake in Silicon Valley-based NexFlash
By Semiconductor Business News
February 2, 2001 (10:12 a.m. EST)
URL: http://www.eetimes.com/story/OEG20010202S0016

SANTA CLARA, Calif.--Taiwan's Winbond Electronics Corp. has acquired a minority stake in NexFlash Technologies Inc., a Santa Clara-based developer of intellectual property for flash memory. The stake was purchased for $33 million, according to NexFlash, which was established in 1998 by Integrated Silicon Solution Inc. (ISSI) here.

"Partnering with Winbond will enable NexFlash to pool the resources to develop very advanced process technologies and products," said Mo Bandali, president of NexFlash. "In addition, the cash infusion will finance our growth as we go forward."

About 45% of the funds from Winbond will go directly to NexFlash with the rest being received by shareholders in the privately-held company. The investment was made by the investment arm of Winbond, based in Hsinchu, Taiwan.