Intel Sells Its NAND Memory Business to SK Hynix for $9 Billion
Semiconductor giant Intel (NASDAQ: INTC) is selling its NAND memory operations to South Korean memory expert SK Hynix. First reported by The Wall Street Journal, the deal was confirmed today by a press release from SK Hynix.
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The $9 billion takeover will include Intel's NAND memory chip designs, including a factory in China and the accompanying solid-state drive (SSD) storage business. Intel will hang on to its high-speed Optane memory chip operations. The companies hope to have all the required governmental and regulatory approvals in hand by the end of 2021.
Source Fool.com