The purchase will strengthen Micron's presence in the NAND flash memory market, the company says Semiconductor manufacturer Micron Technology announced Wednesday that it is buying Lexar Media in an all-stock transaction worth approximately $682 million.The purchase will strengthen Micron’s presence in the NAND flash memory market, the Boise, Idaho, company said. Lexar, of Fremont, California, is a large producer of flash memory devices.Flash memory, which retains data without a constant power supply, is used in assorted consumer products, such as memory cards, USB devices, digital cameras, cell phones and portable music players. Pending regulatory approval, the deal is slated to close in the third quarter.According to an agreement reached by both companies, Micron expects to issue shares in exchange for 81.6 million Lexar shares. Each Lexar share will receive 0.5625 shares of Micron stock, approximately an 18 percent premium over the $7.09 share price that Lexar stock ended trading at Tuesday. Technology Industry