Elpida Buying Qimonda's Graphics Division

BERLIN (AP) -- Elpida Memory Inc. of Japan will take over Qimonda AG's graphics business, the Germany-based memory chip maker's bankruptcy administrator said Thursday.

Administrator Michael Jaffe gave no details of the value of the transaction, which will see Elpida take over Munich-based Qimonda's Graphics Double Data Rate technology.

The deal "maintains development capacities and highly qualified jobs at the high-tech location in Munich," Jaffe said in a statement.

Tokyo-based Elpida chip maker is a joint venture between Japanese electronics companies NEC Corp. and Hitachi Ltd.

Qimonda filed for bankruptcy protection in January. It said that a massive drop in prices of the dynamic random access memory chips it produces and decreased access to financing on capital markets had worsened its position.

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