Intel Sells SSD Business and Dalian Facility to SK hynix

Businesswire2021-12-30

SANTA CLARA, Calif.--(BUSINESS WIRE)--Intel Corporation today announced it has 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 intellectual properties (IP) and employees) and the Dalian NAND memory manufacturing facility in China to Seoul-based SK hynix. In exchange, SK hynix will pay Intel US$7 billion in consideration.The dea lwas announced Oct. 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. 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 US$2 billion.

The SSD business will transition to a newly formed company, Solidigm, a subsidiary of SK hynix. Solidigm, whose name reflects a new paradigm in solid-state storage, will name Robert (Rob) B. Crooke as CEO. Crooke was previously senior vice president and general manager of Intel’s Non-Volatile Memory Solutions Group. Solidigm will have its headquarters in San Jose, California.

As previously disclosed, Intel intends to invest transaction proceeds to deliver leadership products and advance its long-term growth priorities.

Intel shares fell 0.44% in after-hours trading.

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Comments

  • MNCoffee
    2021-12-30
    MNCoffee
    wow
  • SanWangtikup
    2021-12-30
    SanWangtikup
    Like pls 
  • Jialatsia
    2021-12-30
    Jialatsia
    Meep
  • Xiaobaibaix
    2021-12-30
    Xiaobaibaix
    Goooo intelll 
  • AriesSwa
    2021-12-30
    AriesSwa
    With their new and future plan to focus on building better processor, it would be good for them to refocus on what they do best. ElseNVIDIA will take over every inch of their corebusiness🧐
  • Bspn
    2021-12-30
    Bspn
    Ok
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