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SK hynix win US approval for $9 billion Intel NAND deal
The South Korean company 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. This follows approval from the U.S. Federal Trade Commission last year.
The approval moves The USD 9 billion semiconductor NAND memory deal toward the planned final closure. Through the acquisition, SK hynix will expand its global footprint and capabilities, adding complementary memory technology from the Intel NAND business. The companies will do the best efforts for the remaining approvals to be obtained during 2021.
The South Korean company says that the acquisition will extend its technology in the NAND flash space; SK hynix has been investing in developing new technologies in both DRAM and NAND flash. The company says it expects to enhance its expertise with Intel’s NAND memory technology.
