SK Hynix’s $9 billion acquisition of Intel’s NAND unit gets full approval
China’s State Administration of Market Regulation approves deal between Intel and SK Hynix
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China’s State Administration for Market Regulation hasgivenSK Hynix, the South Korean memory and chipmaking giant, approval to acquireIntel’sNANDstorage unit for $9 billion.
The deal, which sees Hynix pay $7 billion in the first phase (with the other $2 billion coming by March 2025), hasalso received approval from US and EU regulatorsand China’s approval means Hynix’s largest-ever deal can go ahead.
China did however stipulate several conditions for the deal, including ensuring that prices and supplies remain at similar levels to today to “helping a third party break into” theSSDmarket.
To Hynix and beyond
Hynix hopes the deal will help cement its position as one of the world’s largest NAND storage manufactures, as the technology is used in pretty much all modern smartphones.Samsungis the current leader in the NAND market.
The company is also set to take overIntel’s factory in Dalian, Chinaas part of the deal. TrendForce estimates this will increase Hynix’s market share of flash-based memory components to over 20%.
“SK Hynix will enhance its competitiveness of NAND Flash and SSD business by continuing the remaining post-merger integration process,” the company said.
ViaBloomberg
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Max Slater-Robins has been writing about technology for nearly a decade at various outlets, covering the rise of the technology giants, trends in enterprise and SaaS companies, and much more besides. Originally from Suffolk, he currently lives in London and likes a good night out and walks in the countryside.
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