On March 27, SK Hynix officially completed its acquisition of Intel’s NAND business (now rebranded as Solidigm) with the final payment of $1.9 billion.
The deal traces back to October 20, 2020, when SK Hynix and Intel jointly announced a $9 billion agreement to acquire Intel’s NAND SSD business, NAND component and wafer operations, including Intel’s NAND flash memory fabrication facility in Dalian, China. However, Intel retained ownership of its proprietary Optane business.
On December 22, 2021, China’s State Administration for Market Regulation (SAMR) granted conditional approval for the acquisition, clearing the final regulatory hurdle.
The acquisition unfolded in two distinct phases:
Phase 1 (Late 2021): SK Hynix paid $6.61 billion for Intel’s SSD business and Dalian production assets, rebranding the enterprise SSD division as Solidigm.
Limitations: Intel retained control of NAND-related intellectual property (IP), R&D infrastructure, and key personnel, restricting Solidigm’s ability to collaborate on technology development.
Phase 2 (March 27, 2025): SK Hynix finalized the deal with a **2.24 billion), gaining full operational control over Intel’s NAND IP, R&D resources, and technical workforce.
In an SEC filing, Intel stated: “The second closing occurred on March 27, 2025. Intel received approximately $1.9 billion in cash consideration at closing, net of certain adjustments.”
An Intel spokesperson emphasized that the transaction “strengthens Intel’s balance sheet and enhances financial flexibility.”
Key Implications:
SK Hynix solidifies its position as a top-tier NAND player, integrating Solidigm’s IP to accelerate innovation.
Intel shifts focus to high-margin segments like Optane and advanced logic chip development.
The deal reshapes the global memory market, intensifying competition with Samsung and Micron.