SK Hynix to Acquire Intel's NAND Business for $9 Billion
October 19 2020 - 9:24PM
Dow Jones News
By Kwanwoo Jun
SK Hynix Inc. plans to purchase Intel Corp.'s NAND memory-chip
business for about $9 billion, the South Korean chip maker said in
a regulatory filing Tuesday.
SK Hynix will pay KRW10.310 trillion ($9.04 billion) to acquire
most of Intel's NAND business--which covers the NAND solid-state
drive business, the NAND component and wafer business, and the
Dalian NAND memory manufacturing facility in China, according to
the filing.
The South Korean company's planned acquisition "aims to enhance
the competitiveness of its NAND flash solutions" as a leading
global semiconductor company.
The deal is expected to be completed by March 15, 2025.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
October 19, 2020 21:09 ET (01:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Intel (NASDAQ:INTC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Intel (NASDAQ:INTC)
Historical Stock Chart
From Sep 2023 to Sep 2024