Intel has been in talks in selling its NAND business to SK Hynix for quite a long time. And now, the business deal has been complete. With this deal, SK Hynix will get acquire all the IP licenses of the deal, NAND SSD business, and the manufacturing plant in Dalian, China.
The deal has been closed for $7 billion, which will shift the license from Intel to SK Hynix, includes IP, employees, etc. In the next two years, SK Hynix will also obtain everything related to NAND which includes wafers, design, R&D, etc. Intel will keep on using the China-based factory for the next 1 year until the deal is finalized.
However, they will still happen to have the Optane brand and business. SK Hynix will help Intel to improve the storage solution in the coming years. Bob Swan, CEO adds further that this deal will help the company to invest in different technologies.