SK hynix to acquire Intel NAND memory business for $9 billionChristian Fernsby ▼ | October 20, 2020
SK hynix and Intel announced that they have signed an agreement under which SK hynix would acquire Intel’s NAND memory and storage business for $9 billion.
Intel SK hynix
Topics: SK hynix Intel
SK hynix and Intel will endeavor to obtain required governmental approvals, expected in late 2021. Following receipt of these approvals, SK hynix will acquire from Intel the NAND SSD business (including NAND SSD-associated IP and employees), as well as the Dalian facility, with the first payment of US $7 billion.
SK hynix will acquire from Intel the remaining assets, including IP related to the manufacture and design of NAND flash wafers, R&D employees and the Dalian fab workforce, upon a final closing expected to occur in March 2025 with the remaining payment of US $2 billion.
Per the agreement, Intel will continue to manufacture NAND wafers at the Dalian Memory Manufacturing Facility and retain all IP related to the manufacture and design of NAND flash wafers until the final closing.
With this acquisition, SK hynix aims to enhance the competitiveness of its storage solutions, including enterprise SSDs, in the rapidly growing NAND flash space, and further aims to leap forward as one of the leading global semiconductor companies in the industry.
SK hynix expects that the transaction would enable SK hynix to grow the memory ecosystem to the benefit of customers, partners, employees and shareholders. ■