Micron to acquire Japanese chipmaker

San Francisco, July 3 (IANS) US semiconductor manufacturer Micron Technology has announced acquiring the bankrupt Japanese chipmaker Elpida Memory for approximately $2.5 billion.

Under the agreement, Boise, Idaho-based Micron will buy Elpida for 60 billion Japanese yen ($754 million) in cash and then pay 140 billion yen (around $1.75 billion) in annual instalments through 2019 to cover Elpida's debt, reported Xinhua.