Categories: TECH NEWS

Intel closes the deal with Hynix and sells its memory division for 9 billion dollars

In October 2020, Intel announced that it was in negotiations with SK Hynix to sell its memory and NAND flash storage business, and now, more than a year later, the first phase of the deal for which Intel will receive the incredible sum has just been completed. Total of 9 billion dollars.

At that time, Intel agreed to hand over its NAND flash memory business, NAND wafer and component business, and its NAND memory manufacturing facility in Dalian, China. In return, the company will receive an initial payment of $ 7 billion that will allow the change of ownership transition to begin. Notably, Intel will retain specific intellectual property related to the design and manufacture of NAND wafers for the duration of this transition. In addition, it will continue to use the Dalian facilities until this process is complete.

Once this transition is completed, it is not until 2025 that SK Hynix will take ownership of all remaining Intel assets, including the employees in charge of NAND memory Research and Development, and will have to pay the remaining $ 2 billion. These assets will then be transferred to a new SK Hynix subsidiary called Solidigm, led by Robert B. Crooke, who was previously Senior Vice President and General Manager of Intel’s Non-Volatile Memory Solutions Group.

On the other hand, Intel announced using these profits to “offer leadership products and promote its long-term growth priorities.” In this way, after this deal with SK Hynix, the blue company leaves the NAND flash memory market, at least for a long time.

Share
Andre

Andre is the content writer at Fbhtechinfo. He develops and edits tutorials and how-to guides, focusing on social networks, Android, iPhone, computers, and the internet, among other topics.

Recent Posts

6 Easy Steps: What is Betway Login? How to Login to Betway

One of the most crucial stages any Betway Login bettor should be aware of is… Read More

September 21, 2022

8 Simple Steps: How to Repair a Water Damaged MacBook

You might be able to repair a water damaged MacBook by moving quickly and using… Read More

September 20, 2022

How to Change Netflix Video Quality

On your computer or mobile device, Netflix is a popular website that allows you to… Read More

September 19, 2022

Google Accidentally sent a Developer $250,000

(CNN) – A guy received a nearly $250,000 payout from Google despite having done no… Read More

September 18, 2022

5 Best News Websites You Can Trust

Right now, fake news is a significant problem. Mega-billionaires own the news organizations. Everyone is… Read More

September 18, 2022

What Does DTB Stand For in Texting?

We have additional language that we utilize while texting and messaging. Every day, new sentences… Read More

September 18, 2022