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SK Hynix to Buy Intel’s NAND Memory Chip Business in $9 Billion Deal

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Key Points

  • The world’s second-largest chipmaker, South Korea’s SK Hynix, is to buy Intel’s flash memory chip operation in a deal worth $9 billion, it said Tuesday, as it seeks to bolster its position against Samsung.
  • SK Hynix was already the world number two DRAM chipmaker and second overall but has lagged in the NAND memory chip category, where it ranked fourth according to Yonhap news agency.
  • Both markets are dominated by rival South Korean behemoth Samsung Electronics, and global chip demand has driven the two firms’ profits upwards in recent years.
  • Visit The Financial Today’s homepage for more stories.

SEOUL — The world’s second-largest chipmaker, South Korea’s SK Hynix, is to buy Intel’s flash memory chip operation in a deal worth $9 billion, it said Tuesday, as it seeks to bolster its position against Samsung.

In a regulatory filing, the chipmaker said it will acquire Intel’s “entire NAND business division excluding the Optane division” for 10.3 trillion won. 

The deal includes Intel’s factory in Dalian, China, it added.

SK Hynix was already the world number two DRAM chipmaker and second overall but has lagged in the NAND memory chip category, where it ranked fourth according to Yonhap news agency.

Both markets are dominated by rival South Korean behemoth Samsung Electronics, and global chip demand has driven the two firms’ profits upwards in recent years.

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