SK hynix said it will pay $7 billion by 2021 to first acquire Intel's factory in China. For SK Hynix, the deal will help it to narrow the gap with Samsung. South Korean memory chip maker SK Hynix will acquire Intel's NAND memory and storage business for $9 billion, the pair announced on Tuesday. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. © Intel Corporation. SK hynix will pay US $9 billion for the Intel NAND memory and storage business, which includes the NAND SSD business, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China. It's a deepfake, Why Microsoft backs Australia's pay for news proposal, Barack Obama and Bruce Springsteen team up for new podcast, How AI that reads emotions is changing the online classroom, How Singapore's contact tracing technology undermines citizen's trust, Spot the robot's new arm lets it jump rope (and do serious stuff), 2020 was supposed to be the year of streaming. Words such as “anticipates,” “expects,” “intends,” “goals,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” “will,” “would,” “should,” “could,” and variations of such words and similar expressions are intended to identify such forward-looking statements. Intel intends to invest transaction proceeds to deliver leadership products and advance its long-term growth priorities, including artificial intelligence, 5G networking and the intelligent, autonomous edge. Following receipt of these approvals, SK hynix will acquire from Intel the NAND SSD business (including NAND SSD-associated IP and employees), as well as the Dalian facility, with the first payment of US $7 billion. Other names and brands may be claimed as the property of others. The deal comes after Intel admitted it was struggling to produce in volume the next generation of leading edge chips. SK hynix developed the world’s first Charge Trap Flash (CTF)-based, 96-layer 4D NAND flash in 2018 and 128-layer 4D NAND flash in 2019. Their combination will see SK Hynix leapfrog Japan's Kioxia—formerly Toshiba—and Western Digital of the United States into second place with a NAND market share of more than 23 percent. SK hynix’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxembourg Stock Exchange. SK Hynix and Intel hope to have regulator approval for the merger by late 2021. Factset: FactSet Research Systems Inc.2018. Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. SK Hynix ranked fourth by global NAND sales in the second quarter this year, according to market researcher Trendforce. Copies of SK hynix’s earnings releases and business reports may be obtained by visiting SK hynix’s Investor Relations website at https://www.skhynix.com/eng/ir/irOverview.jsp. It does not constitute or include any advice or recommendation by SK hynix or Intel (or any other person) regarding the securities of SK hynix, including its Global Depositary Receipts (GDRs), or Intel or as to the merits of any transaction or the making of any investment decision. Per the terms of the unusual agreement, SK Hynix will be acquiring Intel’s NAND memory business in two parts, with the deal not expected to completely close until March of 2025. SK hynix will combine Intel`s solutions technology and manufacturing capability in order to establish a higher value-added 3D NAND solutions portfolio including enterprise SSDs. SK Hynix will acquire Intel's NAND memory chip business, including associated manufacturing and design patents, as well as the US firm's factory in Dalian, China, the companies said in a … Intel will retain its distinct Intel® Optane™ business. SK hynix signed a deal last October to buy Intel's non-volatile memory unit for US$9 billion, which includes the solid-state drive business and a NAND flash chip plant in Dalian, China. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com. SEOUL/SAN FRANCISCO (Reuters) – Intel Corp has agreed to sell its NAND memory chip business to SK Hynix Inc <000660.KS> for $9 … The … Hynix is the world's second-largest memory chipmaker and the world's 3rd-largest semiconductor company. The two companies will work collaboratively, as they did recently with DDR5, to better serve the growing demand from the memory-based semiconductor ecosystem. Hong Kong (CNN Business)US chipmaker Intel (INTC) is selling part of its memory chip business to SK Hynix for $9 billion in a deal that would make the South Korean company the world's second biggest flash memory chipmaker. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. In 2012, when SK Telecom became its major shareholder, Hynix merged to SK Group. With this acquisition, SK hynix aims to enhance the competitiveness of its storage solutions, including enterprise SSDs, in the rapidly growing NAND flash space, and further aims to leap forward as one of the leading global semiconductor companies in the industry. SK Hynix said Intel would sell all of its NAND business including its solid-state drive business, NAND component and wafer operation, and its factory in Dalian, China. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. SK hynix aims to enhance the competitiveness of its NAND flash solutions as one of the leading global semiconductor companies and grow the memory ecosystem to … Once approval has been granted, SK Hynix will pay Intel $7B for … Neither [SK hynix] nor Intel undertakes, and both SK hynix and Intel expressly disclaim any duty, to update any statement made in this press release, whether as a result of new information, new developments or otherwise, except to the extent that disclosure may be required by law. Meanwhile rivals. But what is it? This announcement is not an offer to sell or a solicitation of an offer to buy or exchange or acquire securities. Intel primarily makes flash memory chips at a factory in Dalian, China, though … Statements in this press release that refer to future plans and expectations, including with respect to the transactions contemplated by SK hynix’s agreement to acquire Intel’s NAND memory and storage business, NAND manufacturing and supply arrangements and other relationships between SK hynix and Intel, and SK hynix’s and Intel’s business and investment plans, are forward-looking statements that involve a number of risks and uncertainties. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Founded as Hyundai Electronic Industrial Co., Ltd. in 1983 and known as Hyundai Electronics, the company has manufacturing sites in Korea, the United States, China and Taiwan. SEOUL/SAN FRANCISCO (Reuters) - Intel Corp has agreed to sell its NAND memory chip business to SK Hynix Inc <000660.KS> for $9 billion in an all … SK hynix expects that the transaction would enable SK hynix to grow the memory ecosystem to the benefit of customers, partners, employees and shareholders. SK hynix Inc. is a South Korean memory semiconductor supplier of dynamic random-access memory chips and flash memory chips. US semiconductor firms spent $72 billion on research and development and capital expenses in 2019, compared to $40 billion in 2007, according to a September report from Eurasia Group. This follows approval from the U.S. Federal Trade Commission last year. As the global leader in the semiconductor industry, Intel possesses industry-leading NAND SSD technology and quadruple level cell (QLC) NAND flash products. SK Hynix could leverage Intel’s Non-Volatile Memory Solutions Group to play catch-up in enterprise SSD solutions, and beef up high-value product mix, should its acquisition plan win regulatory approval.” — Anthea Lai, analyst. Intel will retain its Intel® Optane™ business and intends to invest transaction proceeds in long-term growth priorities. BofA Securities served as financial advisor and Munger, Tolles & Olson LLP, Wilmer Cutler Pickering Hale and Dorr LLP, Linklaters LLP and Bae, Kim & Lee LLC served as legal counsel to Intel. For the six months ended June 27, 2020, NAND businesses represented approximately US $2.8 billion of the revenue for Intel’s Non-volatile Memory Solutions Group (NSG) and contributed approximately US $600 million to NSG operating income. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com. The company currently has an 11.7% market share, compared to Samsung's 31.4%. The deal with SK Hynix is the latest one Intel has made so it can double down on developing technology for 5G network infrastructure. SEOUL, Republic of Korea, and SANTA CLARA, Calif., Oct. 20, 2020 — SK hynix and Intel today announced that they have signed an agreement on Oct. 20, Korea Standard Time, under which SK hynix would acquire Intel’s NAND memory and storage business for US $9 billion. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to the benefits of the transactions contemplated by SK hynix’s agreement to acquire Intel’s NAND memory and storage business; the timing and closing conditions of such transactions, including with respect to applicable governmental approvals; anticipated trends in SK hynix’s or Intel’s businesses or the markets relevant to them; investment returns and benefits; and future products and technology and the availability and benefits of such products and technology also identify forward-looking statements. Intel will retain its Intel® Optane™ business and intends to invest transaction proceeds in long-term growth priorities. US considers restrictions on China's largest chipmaker. All rights reserved. Citi served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP, K&C and Fangda Partners served as legal counsel to SK hynix. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. Updated 12:29 AM ET, Tue October 20, 2020. Intel (NASDAQ:INTC) has agreed to sell its Nand memory unit to SK Hynix (OTC:HXSCF, OTC:HXSCL) for 10.3T South Korean won (~$9B), the Asian … SK hynix and Intel will seek governmental approvals and hope to gain permission for the sale in late 2021. Disclaimer. SK hynix and Intel will endeavor to obtain required governmental approvals, expected in late 2021. Copies of Intel’s Form 10-K, 10-Q and 8-K reports may be obtained by visiting Intel’s Investor Relations website at www.intc.com or the SEC’s website at www.sec.gov. SK Hynix will acquire Intel's NAND memory chip business, including associated manufacturing and design patents, as well as the US firm's factory in Dalian, China, the companies said in a statement on Tuesday. "SK hynix and Intel will endeavor to obtain the required governmental approvals expected in late 2021. South Korean memory semiconductor supplier SK hynix will pay $9bn to buy Intel’s NAND foundry and SSD business, it has been confirmed. All rights reserved. Christie's CEO: NFTs and blockchain authenticate digital art, One-shot drone video of bowling alley mesmerizes internet, Netflix and Facebook use these smart windows instead of blinds, Square to buy majority stake in Jay-Z's Tidal, No, Tom Cruise isn't on TikTok. The company said in July that production of 7 nanometer chips would be delayed until 2022. Per the agreement, Intel will continue to manufacture NAND wafers at the Dalian Memory Manufacturing Facility and retain all IP related to the manufacture and design of NAND flash wafers until the final closing. SK Hynix and Intel combined had about 23% of the NAND market in the second quarter, according to … In October 2020, SK hynix agreed to acquire Intel's NAND memory and storage business for $9 billion. Intel's NAND flash memory products are used in devices such as smartphones, tablets and hard drives. Shares in SK Hynix were last down more than 2% in Seoul. Intel-Powered AI Solution Helps Reduce Diabetic Vision Loss, Intel Launches SSD for Everyday Computing, Mainstream Gaming, Intel Announces Its Next Generation Memory and Storage Products. The acquisition marks the latest big tie-up in the rapidly consolidating semiconductor industry. For Intel, this transaction will allow us to further prioritize our investments in differentiated technology where we can play a bigger role in the success of our customers and deliver attractive returns to our stockholders.”. Intel and SK hynix will work together to ensure a seamless transition for customers, suppliers and employees. Experience the breakthrough. SK hynix, headquartered in Korea, is the world’s top tier semiconductor supplier offering dynamic random access memory chips (“DRAM”), flash memory chips (“NAND flash”) and CMOS image sensors (“CIS”) for a wide range of distinguished customers globally. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Hynix will pay US$7 billion in … “I am pleased to see SK hynix and Intel’s NAND division, which have led the NAND flash technology innovation, work to build the new future together,” said Seok-Hee Lee, chief executive officer (CEO) of SK hynix. Intel is still an industry leader when it comes to chipmaking, and remains the only US company able to compete with TSMC and Samsung when it comes to designing, manufacturing and producing advanced chips. SK Hynix is the number two manufacturer of DRAM, second to Samsung. The US company will keep Optane, its advanced memory chip technology business. SK hynix has received clearance from the Committee on Foreign Investment in the United States (CFIUS) for its proposed acquisition of Intel’s NAND memory and storage business. Instead, it was the year of Netflix, Taiwan Semiconductor Manufacturing Company, Taiwan could become the next flashpoint in the global tech war, The United States is taking aim at China's biggest chipmaker. The deal with SK Hynix is “a very natural step” for Intel, he added. For SK Hynix, acquiring part of Intel's memory chip business will allow the South Korean company to vault from fourth place in the global rankings of NAND flash chip makers to second, just behind rival Samsung. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. For Intel, the deal "will allow us to further prioritize our investments in differentiated technology where we can play a bigger role in the success of our customers and deliver attractive returns to our stockholders," Intel CEO Bob Swan said in a statement. NFT artwork sold for $69 million. All times are ET. SK hynix will combine Intel’s solutions technology and manufacturing capability in order to establish a higher value-added 3D NAND solutions portfolio including enterprise SSDs. Most stock quote data provided by BATS. Before the Kioxia IPO was pulled, there were reports that SK Hynix had hoped to … SK hynix Gold P31 SSD Fastest in Class First in 128-layer NAND. The c… Intel was sixth. “By taking each other’s strengths and technologies, SK hynix will proactively respond to various needs from customers and optimize our business structure, expanding our innovative portfolio in the NAND flash market segment, which will be comparable with what we achieved in DRAM.”, Bob Swan, Intel CEO said: “I am proud of the NAND memory business we have built and believe this combination with SK hynix will grow the memory ecosystem for the benefit of customers, partners and employees. But it costs a lot of money to stay at the cutting edge. The deal is expected to close in March 2025. SK hynix aims to enhance the competitiveness of its NAND flash solutions as one of the leading global semiconductor companies and grow the memory ecosystem to the benefit of customers, partners, employees and shareholders. Last year, Intel … Such statements are based on current expectations and involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. SK hynix will pay US $9 billion for the Intel NAND memory and storage business, which includes the NAND SSD business, the NAND component … The transaction includes the NAND SSD business, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China. Important factors that could cause actual results to differ materially from current expectations include, among others, that governmental authorities may not approve the transactions; that the first or second closings of the transactions may not occur or may be delayed; that expected financial or other benefits of the transactions may not be realized; that litigation related to the transactions or limitations or restrictions imposed by regulatory authorities may delay, permanently restrain or negatively impact the transactions; that unanticipated transition costs may be incurred; that the transactions may not be supported by third parties; that the announcement and pendency of the transactions may adversely affect SK hynix’s, Intel’s or the purchased and sold division’s business relationships, operating results, or their business in general; that actions by competitors may negatively impact results; and that there may be negative changes in general economic or geopolitical conditions affecting the regions or the industries in which SK hynix and Intel operate; as well as the factors set forth in SK hynix’s earnings release dated July 23, 2020 and SK hynix’s most recent published business reports and Intel’s earnings release dated July 23, 2020, which is included as an exhibit to Intel’s Form 8-K furnished to the SEC on such date, and Intel’s SEC filings, including the company’s most recent reports on Forms 10-K and 10-Q. The latest innovation from the world’s second largest memory giant, Gold P31 is designed to provide striking performance and superior reliability for today’s most demanding gamers and creators. SK hynix will acquire from Intel the remaining assets, including IP related to the manufacture and design of NAND flash wafers, R&D employees, and … It does not constitute or include any confirmation or commitment by SK hynix or Intel (or any other person) regarding the present or future value of the business of SK hynix, Intel’s NAND memory and storage business or Intel, their securities, affiliates or any of their respective their assets. SK hynix aims to enhance the competitiveness of its NAND flash solutions as one of the leading global semiconductor companies and grow the memory ecosystem to the benefit of customers, partners, employees and shareholders. SK hynix will acquire from Intel the remaining assets, including IP related to the manufacture and design of NAND flash wafers, R&D employees and the Dalian fab workforce, upon a final closing expected to occur in March 2025 with the remaining payment of US $2 billion. Samsung is the leader in the NAND flash market with a 31.4% share, followed by Kioxia with 17.2%, SK Hynix with 11.7%, and Intel and Micron with 11.5% each. This announcement has been prepared by SK hynix and Intel exclusively for information purposes. Intel’s news source for media, analysts and everyone curious about the company.
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