Micron Picks Up Lexar for $680 Million

Computer memory manufacturer Micron said on Thursday it will acquire Lexar Media in a deal valued at $680 million. The purchase will expand Micron's reach into the consumer space, where flash memory has become a staple in electronics such as digital cameras and portable media players.

The move is the second major effort by Micron to cross-over from a largely business background; in November, the company created a joint venture with Intel to build NAND memory chips and signed Apple as a customer shortly thereafter. Lexar has been struggling to compete with SanDisk, and the acquisition by Micron will give the company much-needed direct access to memory chips.