SK Hynix to turn former Intel NAND business into standalone US company

Posted on Friday, August 06 2021 @ 11:33 CEST by Thomas De Maesschalck
Almost a year ago, Intel sold its NAND flash memory business to SK Hynix for $9 billion. The deal received regulatory approval from the US in March and a European nod of approval in May. Regulatory approval from China and Singapore is still pending. Now we hear SK Hynix isn't planning to integrate the business into its corporate structure.

Instead, SK Hynix will turn the former Intel NAND business into a standalone company with a US-based headquarter. The new memory firm will be headed by Robert Crooke, Intel GM for NAND products.
He writes about building "a new multibillion-dollar global company" that has the tech and the "operational scale to become a powerhouse in the NAND storage and memory industry". And he has more than 150 open positions for people to join him in that endeavour, along with the existing base.

SK hynix has a presence in the US already, in the shape of SK hynix America Inc, supplying semiconductors such as NAND and CMOS image sensors. It's not clear if Crooke's new company will take over responsibility for all SK hynix and Intel NAND sales, or just the Intel-sourced products.
Via: The Register

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