SK Hynix Completes $9B Acquisition of Intel's NAND Business

Intel has successfully completed the sale of its NAND memory technology and manufacturing business to SK hynix, concluding a transaction valued at approximately $9 billion. The deal, which began in October 2020, involved two phases, with the final phase completed on March 27, 2023, resulting in Intel receiving around $1.9 billion. This acquisition enhances SK hynix's capabilities in the NAND flash memory sector, as it integrates Intel's substantial technological assets and workforce. The sale signifies a strategic shift for Intel, allowing it to focus on its core businesses amidst ongoing profitability challenges. SK hynix aims to expand its market presence in SSDs, previously dominated by Intel, while planning to leverage the acquired assets for future growth. The completion of this acquisition is seen as a significant consolidation in the memory chip industry, strengthening SK hynix's competitive position globally.