SK hynix finalizes acquisition of Intel's NAND business, takes full control of Solidigm

What just happened? Intel and SK hynix have finalized an $8.85 billion deal that transfers Intel's NAND flash memory business to the South Korean semiconductor giant, marking the completion of a multi-year transaction that began in 2020. The final phase of the acquisition concluded with SK hynix making a $1.9 billion payment to Intel. This final installment secured critical assets – including intellectual property, research and development resources, and key personnel – enabling SK hynix to fully integrate the NAND business and Solidigm, its subsidiary formed from Intel's SSD operations. The acquisition unfolded in two phases over several years. The first phase, completed in December 2021, saw SK hynix acquire Intel's SSD business and its NAND manufacturing facility in Dalian, China, for $6.61 billion. This phase also included the rebranding of Intel's enterprise SSD business under the name Solidigm, which continued operating as a standalone entity under SK hynix's ownership. Howeve ... Read full article.