The Intel-Micron partnership pertaining to memory technologies is drawing to a close, with Micron today announcing they'd be acquiring remaining interest in IM Flash Technologies. IM Flash Technologies is the literal embodiment of the Intel-Micron partnership, and Micron acquiring the entire stake of it means that Intel is left out of any investment/development of 3D XPoint memory.

Micron expects to pay approximately $1.5 billion in cash for the transaction, dissolving Intel's non-controlling interest in IM Flash, and the two companies will independently drive their own future technology roadmaps. Based on prior agreements, Micron will sell 3D XPoint memory wafers to Intel for up to a year after close.

"Micron's acquisition of IM Flash demonstrates our strong belief that 3D XPoint technology and other emerging memories will provide a unique differentiator for the company and be an essential solution for new data-hungry applications," said Micron President and CEO Sanjay Mehrotra. "This investment provides Micron with an established development and manufacturing facility and a highly skilled workforce with a strong track record of innovation and execution."