Intel Sells SSD Business, Dalian Facility to SK hynix
December 30, 2021 | Intel CorporationEstimated reading time: 1 minute
Intel Corporation announced it has completed the first closing of the sale of its NAND and SSD business, selling its SSD business (including the transfer of certain NAND SSD-associated intellectual properties (IP) and employees) and the Dalian NAND memory manufacturing facility in China to Seoul-based SK hynix. In exchange, SK hynix will pay Intel US$7 billion in consideration. The deal was announced Oct. 19, 2020.
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 until the final closing of the transaction. The final closing is expected to occur in or after March 2025, when SK hynix will acquire from Intel the remaining NAND business assets, including certain IP related to the manufacture and design of NAND flash wafers, R&D employees and the Dalian fab workforce, for US$2 billion.
The SSD business will transition to a newly formed company, Solidigm, a subsidiary of SK hynix. Solidigm, whose name reflects a new paradigm in solid-state storage, will name Robert (Rob) B. Crooke as CEO. Crooke was previously senior vice president and general manager of Intel’s Non-Volatile Memory Solutions Group. Solidigm will have its headquarters in San Jose, California.
As previously disclosed, Intel intends to invest transaction proceeds to deliver leadership products and advance its long-term growth priorities.
Suggested Items
Digitalisation and ESG
04/19/2024 | Marina Hornasek-Metzl, AT&SDigitalisation and ESG are prominent and high-priority topics in the global business community. The first focuses on applying technology throughout the value chain to produce faster, smarter, and more desirable business outcomes. The latter emphasises the broader value a business is expected to create for its stakeholders from an environmental, social, and governance perspective.
IPC Bestows Posthumous Hall of Fame Award to Industry Icon Michael Ford
04/18/2024 | IPCIPC honored the late Michael Ford, Aegis Software, for his extraordinary contributions to the global electronics manufacturing industry with the IPC Raymond E. Pritchard Hall of Fame Award at IPC APEX EXPO 2024. IPC’s most prestigious honor, the Hall of Fame Award is given to individuals who have provided exceptional service and advancement to IPC and the electronics industry. Ford, an industry leader and valued IPC volunteer, died suddenly in January 2024.
ZESTRON Welcomes Angela Marquez as Head of Business Unit, Latin America
04/17/2024 | ZESTRONZESTRON, the leading global provider of high-precision cleaning products, services, and training solutions in the electronics manufacturing and semiconductor industries, is delighted to announce Angela Marquez's appointment as the new Head of the Business Unit for Latin America.
Nano Dimension Refreshes Corporate Governance by Appointing Major General (Ret.) Eitan Ben-Eliahu to the Company’s Board of Directors
04/16/2024 | Nano DimensionNano Dimension Ltd., a leading supplier of Additively Manufactured Electronics (AME) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (AM) 3D printing solutions, today announced that Major General (Ret.) Eitan Ben-Eliahu is joining its Board of Directors.
Dan’s Biz Bookshelf: Seeing the How
04/11/2024 | Dan Beaulieu -- Column: Dan's Biz BookshelfI might say this about a lot of books, but this one is a must-read. The author addresses a whole new way of doing business. It’s not like one day we woke up and there it was, a new way to get a ride (Uber), a new home away from home (Airbnb), a new way to get groceries (Instacart) and (DoorDash), and so on. The flood gates have opened, and there’s more to come.