(Boursier.com) – South Korean firm SK Hynix has completed the first phase of its acquisition of the NAND flash memory chip business ofIntel, after receiving regulatory approvals from eight countries, including China. SK Hynix will shell out $ 7 billion of the deal’s total $ 9 billion price tag, the world’s number two memory chip maker said Thursday. The deal, signed in 2020, will allow Intel to focus on its smaller but more lucrative Optane memory business. For SK Hynix, this is the biggest acquisition ever.
An SK Hynix subsidiary called Solidigm, headquartered in San Jose, California, United States, will manage the recently acquired NAND SSD business.
The second phase of the deal is expected to close in or after March 2025, with payment of the remaining $ 2 billion, and will include SK Hynix’s acquisition of Intel’s remaining assets in the NAND business, including ownership intellectual and manpower.
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