SK Hynix to Buy Intel’s NAND Memory Business For $9 Billion

In a joint press release issued early this morning, SK Hynix and Intel have announced that Intel will be selling the entirety of its NAND memory business to SK Hynix. The deal, which values Intel’s NAND holdings at $9 billion, will see the company transfer over the NAND business in two parts, with SK Hynix eventually acquiring all IP, facilities, and personnel related to Intel’s NAND efforts. Notably, however, Intel is not selling their overarching Non-Volatile Memory Solutions Group; instead the company will be holding on to their Optane memory technology as they continue to develop and sell that technology.