Cypress enters into JV with SK hynix

The joint venture will be 60-percent-owned by SK hynix system ic and 40-percent-owned by Cypress, and it will be based in Hong Kong. “This joint venture provides a path to a continued and stable supply to customers longer term,” said Hassane El-Khoury, Cypress’ president and chief executive officer, in a press release. “A key aspect of our Cypress 3.0 strategy is to focus on our core technology targeting growth markets. We will continue to sharpen our focus on differentiated Connect, Compute and Store solutions that target the automotive, industrial and IoT markets, which have longer design cycles. Our NAND customers will now be supported by the joint venture, and the joint venture will continue to support their future needs while allowing Cypress to participate in the success of the joint venture.” Cypress will transfer its full portfolio of SLC NAND Flash memories to the joint venture. The 1Gb to 16Gb devices provide reliable data storage for communications, consumer, automotive and industrial applications. The products are available in compact packages to fit in small form factors, and they meet stringent quality standards, including AEC-Q100 automotive-grade quality. The implementation and launch of the joint venture is expected to take place in the first quarter of 2019, subject to applicable regulatory approvals having been obtained (including the expiration or termination of the applicable waiting periods) and other customary closing conditions.