This has been one over a 12 months within the making. In October 2022 we reported that SK hynix Buying the Intel NAND Storage Enterprise in a Massive Shift. Since that point, it has gone by way of quite a lot of regulatory evaluations, lastly getting the go-ahead from China just lately. Now, it seems as if the transaction is shifting ahead.
Intel Sells SSD Enterprise to SK Hynix
For these of you who’ve been questioning why there are nonetheless Intel SSDs, the reason being that it is a multi-billion greenback acquisition and subsequently it needed to undergo a regulatory evaluation in quite a lot of jurisdictions.
In the present day Intel and SK Hynix introduced that they’ve lastly accomplished the “first closing” of Intel’s NAND and SSD enterprise. On this closing, Intel is “promoting its SSD enterprise (together with the switch of sure NAND SSD-associated mental properties (IP) and workers) and the Dalian NAND reminiscence manufacturing facility in China to Seoul-based SK Hynix.” (Supply: Intel)
The businesses say that “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.” (Supply: Intel)
Intel’s SSD enterprise will switch to the brand new Solidigm subsidiary of SK hynix. Solidigm, based mostly in San Jose, California will likely be headed by Rob Crooke as CEO who beforehand led Intel’s NAND enterprise.
For these questioning what is supposed by the primary closing and Intel retaining IP, Intel additionally mentioned “The ultimate closing is predicted to happen in or after March 2025, when SK hynix will purchase from Intel the remaining NAND enterprise belongings, together with sure IP associated to the manufacture and design of NAND flash wafers, R&D workers and the Dalian fab workforce, for US$2 billion.” (Supply: Intel) So it seems as if this course of will proceed for a number of extra years.
We additionally get a brand new firm combining the “stable” of solid-state storage with the “igm” of paradigm. Naming firms should be enjoyable today.