SK hynix Finally Closed Acquisition of Intel SSD Business and Dalian, China, Facility
Deal announced at $7 billion, and NAND activity supposed to be acquired in March 2025 for $2 billion
This is a Press Release edited by StorageNewsletter.com on January 3, 2022 at 2:01 pmIntel Corporation completed the first closing of the sale of its NAND and SSD business, selling its SSD business (including the transfer of certain NAND SSD-associated IP and employees, and the Dalian NAND memory manufacturing facility in China to Seoul, Korea-based SK hynix, Inc.
In exchange, SK hynix will pay Intel $7 billion in consideration.
The deal was announced October 19, 2020.
Intel will continue to manufacture NAND wafers at SK hynix’s Dalian memory manufacturing facility and retain certain IP related to the manufacture and design of NAND flash wafers until the final closing of the transaction.
Intel Dalian facility
The final closing is expected to occur in or after March 2025, when SK hynix will acquire from Intel the remaining NAND business assets, including certain IP related to the manufacture and design of NAND flash wafers, R&D employees and the Dalian fab workforce, for $2 billion.
The SSD business will transition to a newly-formed company, Solidigm, a subsidiary of SK hynix. This name reflects a new paradigm in solid-state storage.
Robert (Rob) B. Crooke will be its CEO. He was previously SVP and GM of Intel’s non-volatile memory solutions group.
Solidigm will have its HQs in San Jose, CA.
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