Acquired Intel NAND business for $9 billion excluding Optane
SK Hynix received final approval from the US regulatory review regarding the acquisition of the Intel NAND business unit.
On the 12th, SK Hynix announced that it received a notification of’approval’ at the investment deliberation of the US Foreign Investment Review Committee (CFIUS). At the end of last year, it passed antitrust screening by the Federal Trade Commission (FTC). It is the completion of the NAND business acquisition review process at two US agencies.
SK Hynix said, “CFIUS approval is an important milestone in the process of acquiring Intel’s NAND division,” he said. “It will complement memory technology and expand its global capabilities and influence.”
SK Hynix will pay 7 billion dollars to Intel in the first place when the screenings in major countries such as China are completed by the end of this year, and transfer the NAND and Solid Stay Live (SSD) businesses, related intellectual property rights, and manpower. After that, if the remaining $2 billion is paid to Intel by March 2025, the acquisition process will be completed at the Dalian plant in China.
SK Hynix expects to increase the competitiveness of the NAND flash business through this acquisition.
According to the market research firm Trend Force, SK Hynix’s market share in the global NAND flash market as of the fourth quarter was 11.6%, ranking fourth. 1st place Samsung Electronics (32.9%), 2nd place Kioxia (19.5%), 3rd place Western Digital (14.4%), 5th place Micron (11.2%), 6th place Intel (8.6%).
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