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Santa Clara, Calif. 29 Dec 2021 – Intel Company introduced it has accomplished the primary closing of the sale of its NAND and SSD enterprise, promoting its SSD enterprise (together with the switch of sure NAND SSD-associated mental properties (IP) and staff) and the Dalian NAND reminiscence manufacturing facility in China to Seoul-based SK hynix. In change, SK hynix pays Intel US$7 billion (€6.19 billion) in consideration. The deal was introduced Oct. 19, 2020.
Intel will proceed to fabricate NAND wafers at SK hynix’s Dalian reminiscence manufacturing facility and retain sure IP associated to the manufacture and design of NAND flash wafers till the ultimate closing of the transaction. The ultimate closing is anticipated to happen in or after March 2025, when SK hynix will purchase from Intel the remaining NAND enterprise property, together with sure IP associated to the manufacture and design of NAND flash wafers, R&D staff and the Dalian fab workforce, for US$2 billion (€1.77 billion).
The SSD enterprise will transition to a newly shaped firm, Solidigm, a subsidiary of SK hynix. Solidigm, whose identify displays a brand new paradigm in solid-state storage, will identify Robert (Rob) B. Crooke as CEO. Crooke was beforehand senior vp and normal supervisor of Intel’s Non-Unstable Reminiscence Options Group. Solidigm could have its headquarters in San Jose, California.
As beforehand disclosed, Intel intends to take a position transaction proceeds to ship management merchandise and advance its long-term development priorities.
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