SK hynix can pay US $9 billion for the Intel NAND Memory Wave Workshop and storage business, which incorporates the NAND SSD enterprise, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China. SK hynix goals to boost the competitiveness of its NAND flash solutions as one of many leading global semiconductor companies and develop the memory ecosystem to the benefit of customers, companions, workers and shareholders. Intel will retain its Intel® Optane™ enterprise and intends to take a position transaction proceeds in long-term progress priorities. SK hynix will pay US $9 billion for the Intel NAND memory and storage business, which includes the NAND SSD business, the NAND part and wafer enterprise, and the Dalian NAND memory manufacturing facility in China. SK hynix aims to boost the competitiveness of its NAND flash options as one of the main global semiconductor firms and grow the memory ecosystem to the profit of shoppers, companions, employees and shareholders. Intel will retain its Intel® Optane™ business and intends to take a position transaction proceeds in long-term development priorities.

SK hynix and Intel right this moment announced that they've signed an agreement on Oct. 20, KST, underneath which SK hynix would purchase Intel’s NAND memory and storage business for US $9 billion. The transaction contains the NAND SSD enterprise, the NAND element and wafer business, and the Dalian NAND memory manufacturing facility in China. Intel will retain its distinct Intel® OptaneTM business. SK hynix and Intel will endeavor to acquire required governmental approvals anticipated in late 2021. Following receipt of these approvals, SK hynix will acquire from Intel the NAND SSD enterprise (including NAND SSD-associated IP and employees), as nicely as the Dalian facility, with the primary fee of US $7 billion. SK hynix will acquire from Intel the remaining belongings, including IP associated to the manufacture and design of NAND flash wafers, R&D staff, and the Dalian fab workforce, upon a final closing, anticipated to happen in March 2025 with the remaining payment of US $2 billion. Per the settlement, Intel will proceed to manufacture NAND wafers on the Dalian Memory Manufacturing Facility and retain all IP associated to the manufacture and design of NAND flash wafers until the ultimate closing.

With this acquisition, SK hynix goals to enhance the competitiveness of its storage solutions, including enterprise SSDs, in the rapidly rising NAND flash area, and additional aims to leap ahead as one of many main international semiconductor companies within the trade. SK hynix expects that the transaction would allow SK hynix to develop the memory ecosystem to the benefit of consumers, partners, staff and shareholders. As the global leader in the semiconductor trade, Intel possesses business-leading NAND SSD expertise and quadruple stage cell (QLC) NAND flash products. For the primary six months ended June 27, 2020, the NAND businesses represented approximately US $2.Eight billion of the income for Intel`s Non-risky Memory Solutions Group (NSG) and contributed roughly US $600 million to NSG operating income. SK hynix developed the world’s first Charge Lure Flash (CTF)-based, 96-layer 4D NAND flash in 2018 and 128-layer 4D NAND flash in 2019. SK hynix will mix Intel`s options expertise and manufacturing functionality in order to establish a better value-added 3D NAND options portfolio together with enterprise SSDs.

Intel intends to invest transaction proceeds to ship management products and advance its long-time period development priorities, including synthetic intelligence, 5G networking and the clever, Memory Wave Workshop autonomous edge. Intel and SK hynix will work together to make sure a seamless transition for customers, suppliers and staff. The two firms will work collaboratively as they did just lately with DDR5, to raised serve the rising demand from the memory-based mostly semiconductor ecosystem. "I am happy to see SK hynix and Intel`s NAND division, which have led the NAND flash technology innovation, work to build the brand new future together," stated Seok-hee Lee, Chief Executive Officer (CEO) of SK hynix. Bob Swan, Intel CEO said, "I am happy with the NAND memory enterprise we now have built and imagine this mixture with SK hynix will grow the memory ecosystem for the benefit of customers, companions and workers. Citi served as monetary advisor and Skadden, Arps, Slate, Meagher & Flom LLP, Okay&C and Fangda Companions served as legal counsel to SK hynix.