SANTA CLARA, Calif.–(Business enterprise WIRE)–Intel Corporation nowadays introduced it has accomplished the initially closing of the sale of its NAND and SSD enterprise, providing its SSD small business (together with the transfer of selected NAND SSD-linked intellectual attributes (IP) and personnel) and the Dalian NAND memory producing facility in China to Seoul-centered SK hynix. In trade, SK hynix will pay back Intel US$7 billion in consideration. The offer was declared Oct. 19, 2020.
Intel will continue on to manufacture NAND wafers at SK hynix’s Dalian memory manufacturing facility and retain certain IP associated to the manufacture and structure of NAND flash wafers right until the final closing of the transaction. The ultimate closing is envisioned to come about in or immediately after March 2025, when SK hynix will receive from Intel the remaining NAND organization assets, like sure IP connected to the manufacture and structure of NAND flash wafers, R&D personnel and the Dalian fab workforce, for US$2 billion.
The SSD company will transition to a recently formed business, Solidigm, a subsidiary of SK hynix. Solidigm, whose title reflects a new paradigm in solid-condition storage, will title Robert (Rob) B. Crooke as CEO. Crooke was earlier senior vice president and basic supervisor of Intel’s Non-Risky Memory Remedies Group. Solidigm will have its headquarters in San Jose, California.
As beforehand disclosed, Intel intends to commit transaction proceeds to deliver leadership products and solutions and progress its extensive-phrase expansion priorities.
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About SK hynix Inc.
SK hynix Inc., headquartered in Korea, is the world’s top rated tier semiconductor supplier supplying Dynamic Random Access Memory chips (“DRAM”), Flash memory chips (“NAND Flash”) and CMOS Graphic Sensors (“CIS”) for a huge array of distinguished clients globally. The Company’s shares are traded on the Korea Exchange, and the World Depository shares are mentioned on the Luxemburg Inventory Exchange. Even more details about SK hynix is readily available at www.skhynix.com, information.skhynix.com.
Ahead-On the lookout Statements
Statements in this push release that refer to potential designs and expectations, together with with respect to the transactions contemplated by SK hynix’s arrangement to receive Intel’s NAND memory and storage enterprise, NAND producing and offer arrangements and other associations in between SK hynix and Intel, and Intel’s business enterprise and investment options, are ahead-looking statements that contain a selection of threats and uncertainties. Words these kinds of as “anticipates,” “expects,” “intends,” “goals,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” “will,” “would,” “should,” “could,” and versions of these text and very similar expressions are supposed to recognize this sort of forward-searching statements. Statements that refer to or are centered on estimates, forecasts, projections, unsure events or assumptions, including statements relating to the gains of the transactions contemplated by SK hynix’s arrangement to obtain Intel’s NAND memory and storage small business the timing and closing disorders of such transactions the timing of receipt of transaction consideration anticipated trends in Intel’s business enterprise or the markets suitable to it expenditure returns and gains and upcoming products and technology and the availability and positive aspects of this kind of products and engineering also recognize ahead-hunting statements. These statements are dependent on present expectations and contain many dangers and uncertainties that could induce real benefits to differ materially from all those expressed or implied in these ahead-seeking statements. Crucial aspects that could trigger genuine final results to vary materially from present expectations incorporate, amid other individuals, that governmental authorities might not approve the transactions that the closing closing of the transactions may possibly not take place or may well be delayed that expected money or other positive aspects of the transactions may perhaps not be realized that the timing of receipt of transaction consideration could be impacted by overseas exchange controls or other regulatory prerequisites that litigation related to the transactions or restrictions or limits imposed by regulatory authorities may perhaps delay, permanently restrain or negatively impact the transactions that unanticipated transition expenditures may be incurred that the transactions could not be supported by 3rd functions and that there could be negative improvements in common financial or geopolitical conditions influencing the locations or the industries in which SK hynix and Intel operate as nicely as the factors established forth in SK hynix’s most recent revealed company studies and Intel’s SEC filings, such as Intel’s most the latest experiences on Varieties 10-K and 10-Q. Copies of SK hynix’s organization reports may possibly be obtained by visiting SK hynix’s Trader Relations web-site at https://www.skhynix.com/ir/UI-FR-IR01. Copies of Intel’s SEC filings may be received by traveling to Intel’s Investor Relations web-site at www.intc.com or the SEC’s internet site at www.sec.gov. Intel does not undertake, and expressly disclaims, any obligation to update any statement made in this push release, no matter whether as a end result of new facts, new developments or or else, apart from to the extent that disclosure may perhaps be essential by law.
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