SK Hynix has officially completed the second and final phase of its acquisition of Intel’s NAND flash memory and solid-state drive (SSD) business, according to documents the South Korean memory manufacturer disclosed to the country’s Financial Supervisory Service (FSS) today.
A Long-Anticipated Completion
This finalization marks the conclusion of a significant tech industry acquisition that began nearly four years ago. The deal, initially announced in late 2020, has proceeded in two carefully planned phases, reflecting the complexity and scale of transferring Intel’s substantial NAND flash operations.
First Phase: Dalian Plant and SSD Business
The first phase of the acquisition was completed on December 30, 2021, when SK Hynix paid approximately 7,842.2 billion Korean won (about $6.61 billion) to take over Intel’s SSD business and the associated assets at Intel’s NAND flash memory manufacturing facility in Dalian, China.
Final Phase: Intellectual Property and Personnel
In this concluding phase, SK Hynix has acquired the remaining tangible and intangible assets from Intel. These include critical intellectual property related to the production and design of NAND flash memory wafers, research and development personnel, and the employees of the Dalian manufacturing facility. The company paid 3,278.3 billion Korean won (approximately $2.24 billion) for these remaining components of the deal.
Strategic Industry Implications
This acquisition represents one of the most significant consolidations in the memory chip industry in recent years, strengthening SK Hynix’s position in the global NAND flash and SSD markets. The completed transaction allows SK Hynix to integrate Intel’s technology and manufacturing capabilities into its existing memory chip operations.
