Intel today announced that it is selling its NAND flash memory business to South Korean memory giant, SK Hynix, marking another giant tech acquisition we have seen in the last few months. The deal will close by March 2025.
Intel today announced the decision to sell off its memory division to SK Hynix, with the deal covering all IP licenses, the NAND business, and the manufacturing plant in Dalian, China. The deal will apparently kick off with a $7 billion payment for the NAND SSD IP, and employees. In the next two years after that, SK Hynix will acquire everything related to the business, which includes design, R&D engineers, and employees. The only component Intel is keeping is the Optane business.
Intel is slated to keep using the factory for the next 12 months as the deal is expected to get regulatory approval in Late 2021.
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