SK Hynix completes first phase of $9 bln Intel NAND business buy
The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji
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SEOUL, Dec 30 (Reuters) – South Korea’s SK Hynix Inc (000660.KS) said it had completed the first phase of its acquisition of Intel Corp’s (INTC.O) NAND flash memory chip business, after it received regulatory nods from eight countries including China. read more
In exchange, SK Hynix will pay $7 billion out of the deal’s total $9 billion price tag, the world’s second-largest memory chip maker said in a statement on Thursday.
The deal, signed in 2020, will allow Intel to focus on its smaller but more lucrative Optane memory business. For SK Hynix, it is the biggest acquisition ever as it seeks to boost its capacity to build NAND chips, used to store data in smartphones and data centre servers.
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