As per reports, Intel Corporation (INTC) has completed the first closing sale of its NAND and SSD business, selling its SSD business, including the transfer of certain NAND SSD-associated intellectual properties and employees, and the Dalian NAND memory manufacturing facility in China to SK Hynix, a Seoul-based company. SK Hynix will pay Intel US $7 billion in consideration.
Until the final closing, Intel will continue to manufacture NAND wafers at SK Hynix’s Dalian memory manufacturing facility and retain certain IP related to the manufacture and design of NAND flash wafers. The final closing is expected to occur in or after March 2025, when SK Hynix will acquire from Intel the remaining NAND business assets.
The SSD business will transition to a newly formed company, Solidigm, a subsidiary of SK Hynix. Solidigm will name Robert B. Crooke as CEO. The company will be headquartered in San Jose, California.
Intel Corporation (INTC) seeks to expand the boundaries of technology to provide the most amazing experience possible while designing, manufacturing, and selling integrated digital technology globally. To learn more about Intel Corporation (INTC) and to track its progress please visit the Vista Partners Intel Corporation Coverage Page.
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