SK Hynix to Acquire Intel’s NAND for $9 Billion

Hynix to Acquire Intel__39

Intel Corp has recently announced that it has approved the sale of its NAND business to SK Hynix Inc. for $9 billion. It will also sell its China-based factory in this deal, marking its move away from the place. This is an all-cash contract that would drive the South Korean company to succeed in the global chipmaker rankings.

This is the biggest acquisition deal to date for SK Hynix Inc and will help it overtake its competitors – while narrowing the market gap with Samsung Electronics.

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Intel said it would sell all of its NAND operations, including the solid-state drive set-up, NAND component, and wafer operation.

Source: Reuters