It seems that Intel Corporation and STMicroelectronics have agreed to pair up and create a new semiconductor company.

Intel and ST will share ownership in the venture, which will be based in Switzerland and incorporated in the Netherlands, dedicating about 8,000 employees to making NOR and NAND-type flash chips as well as nascent phase-change memory. All three technologies are forms of nonvolatile memory, capable of storing data even when a device’s power is switched off. But phase-change memory could offer faster data transfer and longer durability than flash, because it saves data by changing a type of glass from its crystalline to amorphous state, instead of trapping electrons in semiconductor cells.

Thats pretty much the important stuff, but if you want to read the whole article, you can find it here: http://www.pcworld.com/article/id,132136-c,memory/article.html