Micron

(MU) - Get Report

agreed to buy the U.S.-based memory unit of

Toshiba

, Japan's biggest chipmaker, which said it is exiting the low-margin DRAM business.

Micron plans to complete the purchase of Toshiba's Dominion Semiconductor LLC in January of 2002, and the two companies plan to discuss cooperation on higher-value-added DRAM products in the future.

On Instinet, Micron was recently gaining $1.30, or 4%, to $32.