SK hynix completes its acquisition of Intel's NAND business
South Korean memory giant SK hynix has officially completed its acquisition of Intel’s NAND flash memory business, a deal initially announced in October 2020.
As previously reported by Evertiq, Intel and SK hynix signed a definitive agreement on October 19, 2020, under which SK hynix would acquire Intel’s NAND memory fabrication facility in Dalian, China, along with certain related equipment and tangible assets. The deal also included Intel’s NAND solid-state drive (SSD) business and its NAND memory technology and manufacturing operations.
The first phase of the transaction closed on December 29, 2021, covering the Dalian facility and the NAND SSD business. The second and final phase was completed on March 27, 2025. At this stage, Intel received approximately USD 1.9 billion, net of certain adjustments.
With the completion of the acquisition, the NAND wafer manufacturing and sale agreement established during the first phase — allowing Intel to produce NAND wafers at SK hynix’s Dalian facility — has now been terminated.
