M-Systems Strikes Hynix Accord
M-Systems will place $100 million of equipment at Hynix's manufacturing facility.
M-Systems
(FLSH)
, a maker of data-storage devices, agreed to buy $100 million of equipment that will be placed at
Hynix Semiconductor's
Scroll to Continue
TheStreet Recommends
manufacturing facility in return for guaranteed supply of wafers.
The South Korean company will start supplying wafers to M-Systems once the company buys the equipment. In addition, M-Systems and Hynix are developing an embedded flash-drive product for the mobile handset market.
"These agreements are important to support our continued growth and commitments to our customers," M-Systems said in a press release. "Hynix becoming an additional source for DiskOnChip further validates our leadership within the EFD category."
Shares of M-Systems were up 48 cents to $26.06.
