Intel sells off its SSD and memory business to SK Hynix in drawn-out $9bn deal



Intel has agreed to sell its memory and storage business to SK Hynix for $9bn, or 10.3tr KRW. Intel’s memory business includes all of its solid-state drives, NAND flash, and even a fab in northeastern China, which will all be transferred to the South Korean memory giant in stages through to 2025.

The deal was announced on Intel’s newsroom early this morning for us Brits, and outlines what will be shifting over to the NAND manufacturer over the course of the next few years. Intel’s NAND SSD business, including related employees and IP; the NAND fabrication facility in Dalian, China will be the first transferred over, in return for a $7bn payment, expected in 2021 following approval. Following that, IP related to the design and manufacturing of NAND flash wafers, R&D employees and the Dalian fab workforce will be transferred on receipt of the final $2bn in 2025. 


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