SK hynix said it will pay $7 billion by 2021 to first acquire Intel's factory in China. SK hynix will combine Intel`s solutions technology and manufacturing capability in order to establish a higher value-added 3D NAND solutions portfolio including enterprise SSDs. Their combination will see SK Hynix leapfrog Japan's Kioxia—formerly Toshiba—and Western Digital of the United States into second place with a NAND market share of more than 23 percent. It does not constitute or include any advice or recommendation by SK hynix or Intel (or any other person) regarding the securities of SK hynix, including its Global Depositary Receipts (GDRs), or Intel or as to the merits of any transaction or the making of any investment decision. Hynix will pay US$7 billion in … In October 2020, SK hynix agreed to acquire Intel's NAND memory and storage business for $9 billion. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. It does not constitute or include any confirmation or commitment by SK hynix or Intel (or any other person) regarding the present or future value of the business of SK hynix, Intel’s NAND memory and storage business or Intel, their securities, affiliates or any of their respective their assets. The acquisition marks the latest big tie-up in the rapidly consolidating semiconductor industry. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to the benefits of the transactions contemplated by SK hynix’s agreement to acquire Intel’s NAND memory and storage business; the timing and closing conditions of such transactions, including with respect to applicable governmental approvals; anticipated trends in SK hynix’s or Intel’s businesses or the markets relevant to them; investment returns and benefits; and future products and technology and the availability and benefits of such products and technology also identify forward-looking statements. Intel primarily makes flash memory chips at a factory in Dalian, China, though … Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Intel and SK hynix will work together to ensure a seamless transition for customers, suppliers and employees. But it costs a lot of money to stay at the cutting edge. Last year, Intel … Hong Kong (CNN Business)US chipmaker Intel (INTC) is selling part of its memory chip business to SK Hynix for $9 billion in a deal that would make the South Korean company the world's second biggest flash memory chipmaker. “I am pleased to see SK hynix and Intel’s NAND division, which have led the NAND flash technology innovation, work to build the new future together,” said Seok-Hee Lee, chief executive officer (CEO) of SK hynix. Important factors that could cause actual results to differ materially from current expectations include, among others, that governmental authorities may not approve the transactions; that the first or second closings of the transactions may not occur or may be delayed; that expected financial or other benefits of the transactions may not be realized; that litigation related to the transactions or limitations or restrictions imposed by regulatory authorities may delay, permanently restrain or negatively impact the transactions; that unanticipated transition costs may be incurred; that the transactions may not be supported by third parties; that the announcement and pendency of the transactions may adversely affect SK hynix’s, Intel’s or the purchased and sold division’s business relationships, operating results, or their business in general; that actions by competitors may negatively impact results; and that there may be negative changes in general economic or geopolitical conditions affecting the regions or the industries in which SK hynix and Intel operate; as well as the factors set forth in SK hynix’s earnings release dated July 23, 2020 and SK hynix’s most recent published business reports and Intel’s earnings release dated July 23, 2020, which is included as an exhibit to Intel’s Form 8-K furnished to the SEC on such date, and Intel’s SEC filings, including the company’s most recent reports on Forms 10-K and 10-Q. Factset: FactSet Research Systems Inc.2018. The deal with SK Hynix is “a very natural step” for Intel, he added. Disclaimer. SK hynix will pay US $9 billion for the Intel NAND memory and storage business, which includes the NAND SSD business, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China. SK Hynix and Intel combined had about 23% of the NAND market in the second quarter, according to … For Intel, this transaction will allow us to further prioritize our investments in differentiated technology where we can play a bigger role in the success of our customers and deliver attractive returns to our stockholders.”. The … SK hynix developed the world’s first Charge Trap Flash (CTF)-based, 96-layer 4D NAND flash in 2018 and 128-layer 4D NAND flash in 2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. SK hynix aims to enhance the competitiveness of its NAND flash solutions as one of the leading global semiconductor companies and grow the memory ecosystem to … SK hynix aims to enhance the competitiveness of its NAND flash solutions as one of the leading global semiconductor companies and grow the memory ecosystem to the benefit of customers, partners, employees and shareholders. The deal comes after Intel admitted it was struggling to produce in volume the next generation of leading edge chips. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Such statements are based on current expectations and involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Per the agreement, Intel will continue to manufacture NAND wafers at the Dalian Memory Manufacturing Facility and retain all IP related to the manufacture and design of NAND flash wafers until the final closing. Experience the breakthrough. “By taking each other’s strengths and technologies, SK hynix will proactively respond to various needs from customers and optimize our business structure, expanding our innovative portfolio in the NAND flash market segment, which will be comparable with what we achieved in DRAM.”, Bob Swan, Intel CEO said: “I am proud of the NAND memory business we have built and believe this combination with SK hynix will grow the memory ecosystem for the benefit of customers, partners and employees. SK hynix will combine Intel’s solutions technology and manufacturing capability in order to establish a higher value-added 3D NAND solutions portfolio including enterprise SSDs. SK hynix and Intel will endeavor to obtain required governmental approvals, expected in late 2021. All times are ET. With this acquisition, SK hynix aims to enhance the competitiveness of its storage solutions, including enterprise SSDs, in the rapidly growing NAND flash space, and further aims to leap forward as one of the leading global semiconductor companies in the industry. This announcement is not an offer to sell or a solicitation of an offer to buy or exchange or acquire securities. Intel’s news source for media, analysts and everyone curious about the company. SK Hynix said Intel would sell all of its NAND business including its solid-state drive business, NAND component and wafer operation, and its factory in Dalian, China. For the six months ended June 27, 2020, NAND businesses represented approximately US $2.8 billion of the revenue for Intel’s Non-volatile Memory Solutions Group (NSG) and contributed approximately US $600 million to NSG operating income. Citi served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP, K&C and Fangda Partners served as legal counsel to SK hynix. Copies of SK hynix’s earnings releases and business reports may be obtained by visiting SK hynix’s Investor Relations website at https://www.skhynix.com/eng/ir/irOverview.jsp. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com. All rights reserved. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. All rights reserved. This announcement has been prepared by SK hynix and Intel exclusively for information purposes. Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. SK Hynix could leverage Intel’s Non-Volatile Memory Solutions Group to play catch-up in enterprise SSD solutions, and beef up high-value product mix, should its acquisition plan win regulatory approval.” — Anthea Lai, analyst. The company currently has an 11.7% market share, compared to Samsung's 31.4%. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. NFT artwork sold for $69 million. Before the Kioxia IPO was pulled, there were reports that SK Hynix had hoped to … Neither [SK hynix] nor Intel undertakes, and both SK hynix and Intel expressly disclaim any duty, to update any statement made in this press release, whether as a result of new information, new developments or otherwise, except to the extent that disclosure may be required by law. For Intel, the deal "will allow us to further prioritize our investments in differentiated technology where we can play a bigger role in the success of our customers and deliver attractive returns to our stockholders," Intel CEO Bob Swan said in a statement. Intel intends to invest transaction proceeds to deliver leadership products and advance its long-term growth priorities, including artificial intelligence, 5G networking and the intelligent, autonomous edge. Meanwhile rivals. SK hynix will acquire from Intel the remaining assets, including IP related to the manufacture and design of NAND flash wafers, R&D employees, and … SK hynix 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. Statements in this press release that refer to future plans and expectations, including with respect to the transactions contemplated by SK hynix’s agreement to acquire Intel’s NAND memory and storage business, NAND manufacturing and supply arrangements and other relationships between SK hynix and Intel, and SK hynix’s and Intel’s business and investment plans, are forward-looking statements that involve a number of risks and uncertainties.
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