SK Hynix’s acquisition of Intel’s NAND flash memory business was finally approved
In October 2020, Intel sold its NAND flash memory and storage business to SK Hynix for $9 billion. Including Intel’s solid-state hard drive business, NAND accessories and wafer business, and Intel’s NAND flash memory chip manufacturing plant in Dalian, but Intel will still retain the Optane business.
According to Business Korea reports, the transaction between SK Hynix and Intel may be approved by Chinese regulators at the end of this year. Previously, regulatory agencies in the United States, South Korea, and the United Kingdom have successively approved the transaction. In contrast, AMD’s acquisition of Xilinx is still waiting, and there have been rumors that it will be approved within the year, currently in the second stage of the regulatory review, if necessary, the third stage of the investigation may be conducted, which lasts about two months.After obtaining approval from regulatory agencies around the world, SK Hynix will pay Intel $7 billion to purchase NAND flash memory business including Intel’s factory in Dalian, China. After the transaction is completed in March 2025, SK Hynix will pay Intel the remaining $2 billion to purchase the remaining assets. During this period, Intel’s factory will continue normal production until the contract is finally completed. It was previously reported that SK Hynix will operate as an independent company after taking over Intel’s business, with its headquarters in the United States.
According to Intel, the proceeds from the sale of its NAND flash memory and storage business will be used to promote key projects for long-term growth in the future, including artificial intelligence, 5G networks, and intelligent and autonomous edge computing, etc. Mobileye, which is responsible for the auto-driving business of Intel, is also expected to be the focus of attention, and Intel recently expressed its intention to list it separately.
