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Elpida acquires Rexchip as subsidiary
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Elpida Memory, Inc. has finalized its acquisition of Rexchip Electronics Corp. as its subsidiary via the purchase of a portion of its strategic partner’s shares. Elpida set up the Rexchip joint venture with its partner Powerchip Semiconductor Corp. in November 2006, and this recent move will see the acquisition of Rexchip as a subsidiary of Elpida as it increases its share portion from 48.8% to 52%. The move is claimed to be a result of the “prolonged slump” in DRAM market prices, and the resulting strategic move on the part of Elpida is geared to serve to better its supply-demand balance.
Elpida will purchase 94,251 shares of PSC’s shares in the Rexchip company by the end of March 2009, bringing its total shares to 1,521,052.