Intel sells its NAND flash business to SK Hynix for $9bn
Seoul — Intel has agreed to sell its NAND memory unit to South Korea’s SK Hynix for about $9bn, the company said on Tuesday, in a deal that allows the US chipmaker to concentrate on its main business while shoring up the Asian company’s position in a booming market.
The chipmaker will pay 10.3-trillion won (about $9bn) for the Intel unit, which makes flash memory components for computers and other devices. The acquisition, which will take place in stages until the end of 2025, includes Intel’s solid-state drive, NAND flash and wafer businesses, as well as a production facility in the northeastern Chinese city of Dalian...
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