Micron Technology and Rendition have announced that Micron will acquire the graphics chip maker through a stock-to-stock merger.

　　"Graphics accelerators represent an ideal application that takes advantage of Micron's newly developed embedded DRAM technology. The joining of forces between Micron Technology and Rendition positions us to service the graphics accelerator market in a unique way by having ownership of the architecture, design, and manufacturing of these devices,'' said Steve Appleton, Micron Technology's chairman, president, and CEO. "We are very excited about the new opportunities in graphics accelerators and digital appliances that this partnership makes possible.''

　　Rendition shareholders will receive 3.7 million shares of Micron common stock after the deal is approved by both companies' board of directors and Rendition's stockholders and obtains regulatory approval.

　　"The combination of the two companies facilitates continued aggressive development and technological innovations in the graphics products arena,'' added John Zucker, Rendition's CEO. "It also provides Rendition with access to expanded engineering resources, a worldwide sales force, and existing customer relationships.''