SAN JOSE, Calif. -- Micron Technology Inc. plans to restructure its DRAM efforts in Taiwan, by dissolving one venture and entering into another business arrangement.

As expected, Micron has signed a definitive agreement to acquire Qimonda AG's 35.6 percent ownership stake in Taiwan DRAM venture Inotera Memories Inc. for $400 million in cash.

For some time, Taiwan's Nanya Technology Corp. and Germany's Qimonda owned the joint DRAM manufacturing venture in Taiwan, called Inotera. Now, Micron and Nanya control the venture.

Micron recently entered into a separate R&D and DRAM venture with Taiwanese memory rival Nanya. That venture, MeiYa Technology Corp., is a new DRAM joint venture between Micron and Nanya.

Under the terms of the new deal, the transaction will be completed in two stages, with Micron purchasing half of Qimonda's stake, or about 18 percent of Inotera, for $200 million in cash within approximately the next week.

The remaining approximate 18 percent stake in Inotera will be acquired upon receipt of Taiwan Federal Trade Commission approval and other customary conditions.

Following the acquisition, Qimonda's share of Inotera's capacity will be ramped down over a period of months. In conjunction with the acquisition, Micron anticipates entering into a series of agreements with Nanya to restructure the previously-announced MeiYa joint venture. ''It is anticipated that both parties will cease future resource commitments to MeiYa and redirect those resources to Inotera,'' according to the companies.

In the current Qimonda and Nanya partnership, Inotera operates two 300-mm wafer fabs producing a total of 120,000 wafers per month. Under the new agreement, Micron will acquire access to half of the total manufacturing capacity of Inotera, with the other half allocated to Nanya.

Micron will also share its technology with Inotera for the production of stack DRAM products for Micron and Nanya.

To help fund the purchase price of Inotera, Micron (Boise, Ida.) has obtained $285 million in term loan financing commitments from strategic sources at favorable terms.

''This new relationship with Inotera will increase Micron's competitiveness by further leveraging our current MeiYa joint venture with Nanya,'' said Steve Appleton, Micron Chairman and CEO, in a statement. ''Micron will gain greater scale in DRAM, reduce our operating expenses per wafer and have access to a very cost competitive operation.''