Intel Selling NAND Memory Business to SK Hynix
Though Intel is likely best known for its CPUs, the company has a presence in many other technologies sectors, such as wired and wireless networking and solid state memory, including NAND and Optane. Today it was announced the company has signed an agreement with SK Hynix that will see it transfer the NAND business to the South Korean memory manufacturer for what will total $9 billion. This transf
er will include the NAND SSD business, NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China, but will happen in two parts, with the first likely at the end of 2021 and the second expected in March 2025. This agreement only covers NAND, so Intel will keep its Optane business, a next-generation memory technology the company feels differentiates its products. The companies expect the various government approvals for this transaction to be obtained in late 2021. It is at this point that SK Hynix will take over the NAND SSD business and Dalian facility from Intel, and transfer the first payment of $7 billion. The remaining assets, including the intellectual property concerning the manufacture and design of NAND flash wafers, RD employees, and the Dalian workforce, will be transferred at the final closing, which is expected to be in March 2025, and at this time SK Hynix will pay the remaining $2 billion. Until the final closing, Intel will continue to produce NAND wafers at the Dalian facility, though it will have been acquired by SK Hynix, and keep all of the related IP related to the process as well. This also means Intel will continue on its roadmap and fulfilling its customer commitments. The hope for this deal is to strengthen SK Hynixs competitiveness in storage solutions, including in enterprise SSDs. While Intel is a leader in NAND SSD technology, including quad-level cell, QLC, flash products, SK Hynix has developed technologies such as the first Charge Trap Flash-based, 96-layer 4D NAND flash in 2018, and then last year produced 128-layer 4D NAND flash. By combining the technologies and solutions, SK Hynix hopes to create a higher value-added 3D NAND solution portfolio for its variety of customers, including enterprise customers. Intel intends to invest the proceeds of the transaction into its long-term growth priorities, such as AI, 5G networking, and intelligent, autonomous edge computing. For reference, in the first six months of the year, Intels NAND businesses produced about $2.8 billion of revenue for the companys Non-volatile Memory Solutions Group, and contributed about $600 million to that groups operating income. Source: Intel and SK Hynix
Date: 2020-10-20
URL: https://www.overclockersclub.com/news/43037/
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