This IDC Flash reviews memory maker Micron Technology's (Micron) March 8, 2006, announcement that it will acquire flash memory card maker Lexar Media (Lexar) in a stock-for-stock merger worth approximately $688 million. By the terms of the agreement, each outstanding common share of Lexar will receive 0.5625 shares of Micron stock. Micron anticipates issuing shares in exchange for 81.6 million Lexar shares outstanding. Upon closing by the end of June 2006, the deal will make Lexar (with its 325 employees) a wholly owned subsidiary. This acquisition has significant impact on Micron's competitive positioning in the retail flash card market, and it marks a notable shift in the competitive landscape for the flash NAND memory market as a whole.