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Wednesday, 21 October 2020 08:03

Intel sells NAND business to South Korea's SK hynix for US$9b

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Intel sells NAND business to South Korea's SK hynix for US$9b Courtesy SK hynix

US processor maker Intel has sold its NAND memory and storage business to South Korea's SK hynix, statements from the two companies say, with the going price being US$9 billion (A$12.8 billion).

Intel said the units sold were its NAND SSD business, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China.

It said it would retain its Optane memory technology business which is in partnership with Micron Technology which makes the Optane chips under a supply agreement.

The purchase will make SK hynix the second largest in this space, behind South Korean conglomerate Samsung Electronics, overtaking Japan's Kioxia.

“I am pleased to see SK hynix and Intel’s NAND division, which have led the NAND flash technology innovation, work to build the new future together,” said Seok-Hee Lee, chief executive of SK hynix.

“By taking each other’s strengths and technologies, SK hynix will proactively respond to various needs from customers and optimise our business structure, expanding our innovative portfolio in the NAND flash market segment, which will be comparable with what we achieved in DRAM.”

Intel chief executive Bob Swan said: “I am proud of the NAND memory business we have built and believe this combination with SK hynix will grow the memory ecosystem for the benefit of customers, partners and employees.

"For Intel, this transaction will allow us to further prioritise our investments in differentiated technology where we can play a bigger role in the success of our customers and deliver attractive returns to our stockholders.”

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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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