Powerchip Technology has issued two separate filings announcing its shareholdings in Rexchip Electronics have all been sold to Micron Technology. The move indicates that Micron is about to reach a deal to acquire Elpida, which is currently the largest shareholder of Rexchip.

Powerchip on July 2 announced that Micron has taken over its stake of 627,674,000 shares in Rexchip for NT$14.03 (US$0.47) per unit, or a total of about NT$8.8 billion.

In a separate filing, Powerchip revealed the firm's venture capital subsidiary sold its 63,462,749 shares of Rexchip also at NT$14.03 each, or NT$890 million in total, to Micron.

Rexchip was a joint venture set up by Powerchip and Elpida in 2006 with each party holding a 50% share. However, Powerchip transferred part of its holdings in Rexchip to Elpida in past years due to financial difficulties, reducing its stake in Rexchip to about 20%.

Micron in May confirmed that the company is engaged in discussions with Elpida's trustees to acquire the fellow Japan-based company, which filed for bankruptcy protection earlier in 2012.