SK Hynix to buy part of Intel’s business for about $9 billion

Business

SK Hynix 000660.KS said on Tuesday it will buy Intel’s INTC.O solid state drive (SSD) business, NAND memory chip product and wafer business, as well as its production facility in Dalian, China for about $9 billion in an all-cash deal.

SK Hynix, the world’s second-largest memory chip maker, said $7 billion is likely to be paid by the first closing date expected in late 2021, while another $2 billion by the second closing date expected in March 2025.