SK Hynix Wins Europe’s Approval to Acquire Intel’s NAND Business

SK Hynix Inc.’s $9 billion acquisition of Intel Corp.’s Nand storage unit has been cleared by European regulators. This is another step forward towards sealing a deal to strengthen the Asian chipmaker’s position in the booming memory market.

The regulator said in a statement on Friday that the European Commission has approved the acquisition. Hynix had earlier secured clearance from U.S. regulators and awaits approval from the U.K. and China. Hynix, which announced the deal in October, is trying to win approval from the remaining countries this year.

In the wake of a global chip shortage, the clearance comes as the Biden administration is reviewing semiconductor supply chains. If the Icheon, South Korea-based Hynix succeeds in getting the signoffs from the remaining governments, it will cement its position as the largest Nand producer after Samsung Electronics Co. Meanwhile, Intel procures sufficient funds to invest in its faster-growing logic businesses.

Hynix will pay $7 billion in the deal’s first phase and the rest by March 2025. By the end of 2021, Hynix is set to take over Intel’s facility in Dalian, China, boosting its market share of flash memory components used in computers and other devices to more than 20%. As of the fourth quarter of 2020, according to research firm TrendForce, Hynix’s Nand market share was 11.6%, while Intel’s was 8.6%, and Samsung dominated with 32.9% of the market.

In November, Hynix Chief Executive Officer Lee Seok-hee said that the company plans to more than triple its flash-memory revenue over five years through the acquisition.

“The proposed acquisition will help SK Hynix expand its global footprint, adding complementary memory technology,” the company said in a statement, according to Bloomberg. “SK Hynix expects to enhance its expertise through the acquisition.”

SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More like this

Samsung Galaxy Z Fold 7 to Feature Thicker S...

The Samsung Galaxy Z Fold 7 is one phone that has been discussed for quite some time,...

Samsung Galaxy S25 Edge Leaks in Hands-On Video with...

Samsung was previously rumored to launch the Galaxy S25 Edge in April, but a content creator appears...
AMD & Intel Gain GPU Market Share in Korea as NVIDIA Struggles with Availability

AMD & Intel Gain GPU Market Share in Korea...

The GPU landscape is shifting in 2025, and for once, it's not NVIDIA dominating the charts. AMD...
Samsung Reimagines Customer Service: Inside the Future of Smartphone Support

Samsung Reimagines Customer Service: Inside the Future of Smartphone...

Are you tired of dreary, uninspiring service centres that feel more like waiting rooms than tech havens?...
Intel Xe3P Architecture: A Game-Changer for Next-Gen Arc GPUs?

Intel Xe3P Architecture: A Game-Changer for Next-Gen Arc GPUs?

Intel has always been a name synonymous with innovation in the world of computing. From processors that...

LATEST NEWS

Trump’s 25% Chip Tariffs Spark Production Shift: Taiwanese Firms Eye US Factories

President Donald Trump has unveiled plans to impose a 25% tariff on imported semiconductor chips, with the possibility of further increases over the next...

Champions Trophy 2025: Kohli’s Unbeaten 100 Leads India To A Dominant Victory Over Pakistan

In the year’s most anticipated clash, with signs of wear showing more than before, Virat Kohli proved he’s still got it. Perhaps, just perhaps,...

Champions Trophy 2025: Bangladesh vs New Zealand – Preview, Prediction and Where To Watch The Match LIVE

Bangladesh is set to take on New Zealand in the sixth match of the Champions Trophy 2025 at Rawalpindi Cricket Stadium on February 24....

Best Car to Buy According to your Monthly Salary in 2025

That sleek luxury sedan catches your eye at every showroom visit, but your monthly salary tells a different story. Smart car buying starts with...

Featured