South Korea's SK Hynix to buy Intel's NAND business for $9 billion

SK Hynix shares jumped immediately after the news before valuation concerns saw them reverse gear to fall 2%, while the wider market“Shareholders are negative about the deal because they believe the price is too expensive. It’s good news for other memory chipmakers, because the move would lead to industry consolidation,” said Lee Seung-woo, an analyst at Eugene Investment & Securities.

FILE PHOTO: Employee walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-JiAnalysts said U.S-China tensions may have influenced Intel’s decision to sell its NAND flash memory factory in China. The moves comes a month after Kioxia cancelled a planned initial public offering amid market uncertainty.

Swan has told investors he plans to divest non-core businesses. The company earlier sold its 5G modem business to Apple IncSK Hynix said the companies aimed to obtain government approvals in late 2021, and close the deal in March 2025.The Nand Flash industry grew in the April-to-June quarter thanks to robust demand for PCs and servers as the COVID-19 pandemic forces millions of people to work from home, according to market researcher Trendforce.

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South Korea's SK Hynix to buy Intel's NAND business for $9 billionIntel Corp has agreed to sell its NAND memory chip business to SK Hynix Inc for $9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings.
Fonte: Reuters - 🏆 2. / 97 Leggi di più »

SK Hynix to buy part of Intel's business for about $9 billionSK Hynix said on Tuesday it will buy Intel's solid state drive (SSD) business, NAND memory chip product and wafer business, as well as its production facility in Dalian, China for about $9 billion in an all-cash deal.
Fonte: Reuters - 🏆 2. / 97 Leggi di più »