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 Oct 2020 to Nov 2020 Click Here for more Intel Charts.
Intel (NASDAQ:INTC)
Historical Stock Chart
From Nov 2019 to Nov 2020 Click Here for more Intel Charts.