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Business deals

SK Hynix to buy Intel's NAND memory unit for $9bn

Biggest M&A by a South Korean company is set to transform chipmaking landscape

South Korea's SK Hynix said on Oct. 20 that it will acquire Intel's memory chip unit in a potentially industry-shaking deal. (Source photos by Reuters)

SEOUL -- SK Hynix announced Tuesday that it has signed a deal to buy U.S. chipmaker Intel's NAND memory unit for $9 billion, an acquisition that is set to catapult the South Korean company into the No. 2 spot in the global NAND market.

The deal -- the largest M&A by a South Korean company -- covers Intel's NAND memory and storage business and manufacturing facility in Dalian, China.

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