News & Analysis
M-Systems, Hynix ink supply agreement
8/25/2005 12:25 PM EDT
MANHASSET, N.Y. — Flash memory solutions supplier M-Systems has agreed to purchase $100 million of production equipment for Korea semiconductor supplier Hynix Semiconductor Inc., in return for guaranteed production capacity with favorable terms.
Under the product supply agreement, M-Systems (Sunnyvale, Calif.) will begin receiving wafers from Hynix upon purchasing the equipment, which will be located in Hynix's plants.
Both companies are also teaming to develop a DiskOnChip embedded flash drive (EFD) product for the mobile handset market.
"These agreements are important to support our continued growth and commitments to our customers," said Dov Moran, president and chief executive of M-Systems, in a statement. "Hynix becoming an additional source for DiskOnChip further validates our leadership within the EFD category."
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