Micron Technology, one of the world's leading providers of advanced semiconductor solutions, has confirmed it's engagement in discussions with Elpida Memory, Inc.'s trustees to acquire Elpida's business, as the Japanese chipmaker tries to restructure after tough market conditions and stiff global competition drove it into bankruptcy protection.

Micron made the announcement following a May 10 approval by the Tokyo District Court allowing Elpida's trustees to negotiate an agreement with Micron, pursuant to which Micron would become Elpida's sponsor and acquire Elpida's entire business in accordance with the corporate reorganisation proceedings.

An acquisition would give Micron a 25 percent share of the global market for dynamic random access memory (DRAM) chips, moving it to second place behind Samsung Electronics. It will also give the US company access to Elpida's technology in chips for smartphones and tablets.

Elpida, a semiconductor DRAM memory manufacturer, filed a petition for commencement of Corporate Reorganisation Proceedings with the Tokyo District Court under the Corporate Reorganisation Act of Japan on Feb. 27, 2012, which proceedings have been commenced.

Elpida recently undertook a bidding process to select a company to "sponsor" Elpida during its Corporate Reorganisation proceedings and to acquire the company's business. In that process, Elpida has decided to move forward in negotiations with Micron as the potential sponsor.

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