SK Hynix has agreed with Intel to acquire Intel’s NAND memory and storage business for $9 billion, according to press release. Deal includes NAND SSD business, NAND component and water business, and Dalian memory manufacturing facility in China. Intel to retain its Intel® Optane™ business and related IP rights for the design and manufacture of NAND flash wafers until deal closing.
- With Intel’s NAND memory business acquisition, SK Hynix seeks to enhance the competitiveness of its storage solutions and become a leading global semiconductor company.
- Intel will invest transaction proceeds in delivering leadership products and capitalizing on long-term growth priorities in artificial intelligence, 5G networking, and intelligent, autonomous edge.
- SK Hynix and Intel to work together to ensure a seamless transition for its customers, employees, and suppliers.
- SK Hynix and Intel will obtain the required government approvals by late 2021 to finalize the deal
Intel Corporation’s stock is gaining. INTC: NASDAQ is up on premarket 0.78%