SK Hynix has acquired Intel’s SSD Business and Dalian Facility
Intel sold its NAND flash memory and storage business to SK Hynix for $9 billion on October 19, 2020. Including Intel’s solid-state 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. It has been previously reported that the transaction will be approved by regulatory agencies around the world within 2021.
On December 29th, Intel issued an announcement stating that it had received $7 billion from SK Hynix’s first-stage exchange to purchase the SSD business including Intel’s factory in Dalian, China. After the transaction is completed in March 2025, SK Hynix will pay Intel the remaining US$2 billion to purchase the remaining assets, including the manufacturing and design of NAND flash memory, the R&D team, and the team from the Dalian fab. During this period, Intel’s factories will continue normal production until the contract is finally completed.
These businesses will be transferred to a new company called Solidigm, which reflects the new model of solid-state storage. Solidigm is a subsidiary of SK Hynix and will be headquartered in San Jose, California, USA. Intel veteran Robert (Rob) B. Crooke will serve as Solidigm’s CEO. Crooke was previously senior vice president and general manager of Intel’s Non-Volatile Memory Solutions Group. Solidigm will have its headquarters in San Jose, California.
