Memory venture picks memorable name

Playing off the word "mnemonics" - the art of assisting or improving memory - Numonyx is the new name in nonvolatile memory.

Numonyx is the name chosen for the forthcoming independent semiconductor company that is currently being set up by Intel, STMicroelectronics and Francisco Partners.

The company is being created from the key assets of businesses that last year generated approximately US $3.6 billion in combined annual revenue, and will focus on supplying nonvolatile memory solutions for a variety of consumer and industrial devices including cellular phones, MP3 players, digital cameras, computers and other high-tech equipment.

"We want the industry to see that we are already hard at work to create a significant, agile and energetic new company and what better way to convey that than to give it a name", says Brian Harrison, Vice President and General Manager of Intel's Flash Memory Group and CEO-designate for Numonyx.

"We are proceeding to our original timeframes and will be excited when we can officially launch the new company to our customers later this year".

Playing off the word "mnemonics" - the art of assisting or improving memory - Numonyx is expected to complete its transaction, subject to regulatory approvals and customary closing conditions, in the second half of 2007.

As previously announced, the new entity will have its headquarters in Switzerland.

"Announcing our name allows us to begin developing an independent identity that customers and employees will recognise as a leader in innovative and cost-effective system-level memory solutions", says Mario Licciardello, Corporate Vice President and General Manager of STMicroelectronics' Flash Memories Group and COO-designate for Numonyx.

"While we are progressing in achieving regulatory approvals, planting the Numonyx flag establishes an important milestone for the company".

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