SK hynix will pay US $9 billion for the Intel NAND memory and storage business, which includes the NAND Memory Wave SSD enterprise, 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 world semiconductor companies and develop the memory ecosystem to the profit of shoppers, companions, employees and shareholders. Intel will retain its Intel® Optane™ enterprise and intends to invest transaction proceeds in lengthy-term progress priorities. SK hynix will pay US $9 billion for the Intel NAND memory and storage enterprise, which incorporates the NAND SSD enterprise, the NAND part and wafer business, and the Dalian NAND memory manufacturing facility in China. SK hynix goals to enhance the competitiveness of its NAND flash options as one of many main international semiconductor MemoryWave Community firms and develop the memory ecosystem to the benefit of shoppers, companions, staff and shareholders. Intel will retain its Intel® Optane™ business and intends to take a position transaction proceeds in lengthy-time period growth priorities.
SK hynix and Intel as we speak announced that they've signed an settlement on Oct. 20, KST, underneath which SK hynix would purchase Intel’s NAND memory and storage enterprise for US $9 billion. The transaction includes the NAND SSD enterprise, the NAND component 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 obtain required governmental approvals expected in late 2021. Following receipt of those approvals, SK hynix will purchase from Intel the NAND SSD enterprise (together with NAND SSD-associated IP and employees), as nicely as the Dalian facility, with the first fee of US $7 billion. SK hynix will acquire from Intel the remaining assets, together with IP related to the manufacture and design of NAND flash wafers, R&D employees, and the Dalian fab workforce, upon a closing closing, anticipated to happen in March 2025 with the remaining fee of US $2 billion. Per the settlement, Intel will proceed to manufacture NAND wafers at the Dalian Memory Manufacturing Facility and retain all IP related to the manufacture and design of NAND flash wafers until the ultimate closing.
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With this acquisition, SK hynix goals to boost the competitiveness of its storage solutions, together with enterprise SSDs, in the rapidly rising NAND flash house, and additional aims to leap ahead as one of the main international semiconductor firms within the industry. SK hynix expects that the transaction would allow SK hynix to develop the memory ecosystem to the profit of shoppers, partners, workers and shareholders. As the worldwide chief in the semiconductor trade, Intel possesses business-main NAND SSD know-how and quadruple level cell (QLC) NAND flash products. For the primary six months ended June 27, 2020, the NAND companies represented roughly US $2.Eight billion of the revenue for Intels Non-risky Memory Solutions Group (NSG) and contributed approximately US $600 million to NSG operating income. SK hynix developed the world’s first Cost Trap Flash (CTF)-based, 96-layer 4D NAND flash in 2018 and 128-layer 4D NAND [Memory Wave](https://morphomics.science/wiki/Senior_Living_Communities_Near_Warrenton_VA) flash in 2019. SK hynix will combine Intels options technology and manufacturing capability in order to establish the next value-added 3D NAND solutions portfolio including enterprise SSDs.
Intel intends to speculate transaction proceeds to deliver leadership products and advance its lengthy-term development priorities, together with artificial intelligence, 5G networking and the intelligent, autonomous edge. Intel and SK hynix will work collectively to make sure a seamless transition for patrons, suppliers and staff. The two corporations will work collaboratively as they did not too long ago with DDR5, MemoryWave Community to raised serve the growing demand from the memory-based semiconductor ecosystem. "I am happy to see SK hynix and Intel`s NAND division, which have led the NAND flash know-how innovation, work to build the new future together," mentioned Seok-hee Lee, Chief Executive Officer (CEO) of SK hynix. Bob Swan, Intel CEO stated, "I am happy with the NAND memory business we've got built and consider this combination with SK hynix will grow the memory ecosystem for the benefit of consumers, partners and workers. Citi served as monetary advisor and Skadden, Arps, Slate, Meagher & Flom LLP, Okay&C and Fangda Partners served as authorized counsel to SK hynix.