In October last year, SK Hynix agreed with Intel to buy Intel’s NAND flash and solid-state storage business for $ 9 billion. This week, the South Korean manufacturer moved one step closer to completing the deal, which was approved by the European Commission.
Previously received approvals from the US Federal Trade Commission (FTC) and the Committee on Foreign Investment in the United States (CFIUS). The parties expect the remaining necessary permits to be obtained during 2021.
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Recall, in accordance with the terms of the agreement, SK Hynix will receive a production in Dalian (China), a research center, qualified specialists, and intellectual property related to the design and production of NAND flash memory. Intel will retain its Optane memory product line, co-developed with Micron Technology.
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