AMD's depressing Flash biz set for IPO
Print storySpansion to think about what it has done
Posted in Financial News, 13th April 2005 21:28 GMT
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Flash memory maker Spansion is heading to IPO country, the company said today.
The joint venture between AMD and Fujitsu has filed for an IPO with the US Securities and Exchange Commission. It has yet to set the number of shares to be offered or consequently a per share price.
In 2004, Spansion sold $2.3bn worth of memory products. It likes to be touted as "the largest company in the world dedicated exclusively to developing, designing and manufacturing Flash memory products."
A bullish IPO would be welcome at AMD where Flash memory has become a very sore subject. In recent quarters, AMD's Flash business has blunted stellar chip sales and rival Intel has gained large amounts of share in the Flash market. AMD has been under pressure from shareholders to separate the underperforming Flash unit from the overachieving chip group.
In related news, AMD has put all of its microprocessor operations under one business unit - the newly formed Microprocessor Solutions Sector. This unit will be headed by Dirk Meyer. ®
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