Intel to sell NAND business to SK hynix for $9B

Tuesday, 20. October 2020 08:38

Intel announced that it reached an agreement to sell its NAND memory and storage business to SK hynix Inc, a part of South Korean conglomerate SK Group, for $9 billion.

Under the agreement, SK hynix will buy the NAND SSD business, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China, while Intel will retain its Intel Optane business.

The transaction is expected to close in late 2021 after the companies receive necessary regulatory approvals.

Related Links: Intel Corporation
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Breaking the News / NP