SK Hynix Acquires Intel NAND Business to Strengthen NAND Competitiveness (Update)

[Asia Economy Reporter Changhwan Lee] SK Hynix announced on the 20th that it will acquire Intel's NAND flash business for 10.31 trillion KRW.

SK Hynix disclosed on the same day that it plans to acquire Intel's SSD (solid-state drive) business division, NAND standalone and wafer business, and the NAND business including the Dalian production facility in China (excluding the Optane business unit).

SK Hynix explained that by acquiring Intel's NAND business, it expects to strengthen its SSD solution capabilities, build a high value-added product portfolio, secure balance among memory semiconductor business units, and enhance NAND competitiveness.

Payment of the acquisition price will be 8.0192 trillion KRW at the first closing expected by the end of next year, and the remaining balance will be paid at the second closing expected in March 2025.

Funds will be raised through existing cash and borrowings.

This content was produced with the assistance of AI translation services.