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Intel is selling its SSD business to SK Hynix in a $ 9 billion deal, which will see the chipmaker almost completely abandon the flash memory and storage business, except for high-end Optane memory technology. of Intel, of which it will still be maintained. The deal includes Intel’s previous SSD NAND, component and wafer businesses, along with the company’s NAND factory in Dalian, China.
“For Intel, this transaction will allow us to further prioritize our investments in differentiated technology where we can play a greater role in the success of our customers and deliver attractive returns to our shareholders,” said Bob Swan, Intel CEO.
It will take some time for the deal to be finalized: the two companies are beginning to get government approval for the purchase, which they don’t expect to get until “late 2021.” Until that happens, Intel will continue to manufacture NAND products at the Dalian factory and retain all of its intellectual property rights.
The move marks the latest consolidation for Intel, which has continued to focus more on its core chip manufacturing and data center businesses in recent months. Intel also recently sold its 5G modem business to Apple last year in a deal worth $ 1 billion.
