The split between Micron and Intel will be official on October.
In a regulatory filing with the U.S. Securities and Exchange Commission(SEC) submitted on May 3, the Micron Technology said that it expects to close the sale of Intel's noncontrolling interest in the IM Flash Technologies joint venture on October 31.
At closing, Micron expects to pay Intel approximately $1.3 billion to $1.5 billion in cash for Intel’s noncontrolling interest in IMFT and IMFT member debt owed to Intel and recognize a GAAP financial gain of approximately $100 million. As of the end of Micron’s second quarter of fiscal 2019, IMFT member debt owed to Intel was $1 billion.
IM Flash Technologies was founded in 2006 and was focused on the development of 3D XPoint, a non-volatile memory tech that would eventually be used in Intel Optane. The companies announced in July 2018 that they would stop working together on 3D XPoint after work on its 2nd generation finished in the first half of this year. Products featuring 3D XPoint technology will continue to be sold, but Intel and Micron will develop them separately rather than via IM Flash Technologies.
Micron then said in October 2018 that it would buy out Intel's share of IM Flash Technologies. But Intel said Micron would have to wait until at least January 1, 2019 to purchase its stake in the venture. In January, Micron announced that it was still going to move forward with its plan to buy Intel's 49% stake in IM Flash Technologies.