Approval moves $9 billion semiconductor NAND memory deal toward planned final close.
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. This follows approval from the U.S. Federal Trade Commission last year.
CFIUS approval is a significant milestone toward finalizing the proposed $9 billion deal between SK hynix and Intel. Through the acquisition, SK hynix will expand its global footprint and capabilities, adding complementary memory technology from the Intel NAND business. The companies will do the best efforts for the remaining approvals to be obtained during 2021.
The acquisition will extend SK hynix technology in the NAND flash space, a type of memory that is rapidly growing in use because of its data transfer speed, non-volatility, and energy efficiency. SK hynix has been investing in developing new technologies in both DRAM and NAND flash.
SK hynix expects to enhance its expertise with Intel’s NAND memory technology, in order to deliver more breakthroughs and higher value products for customers.