Intel Sells SSD Enterprise and Dalian Facility to SK hynix

Intel Corp. completes its first closing within the sale of its NAND and SSD enterprise to SK hynix.

SANTA CLARA, Calif., December 29, 2021–(BUSINESS WIRE)–Intel Company at the moment introduced it has accomplished the primary closing of the sale of its NAND and SSD enterprise, promoting its SSD enterprise (together with the switch of sure NAND SSD-associated mental properties (IP) and staff) and the Dalian NAND reminiscence manufacturing facility in China to Seoul-based SK hynix. In trade, SK hynix pays Intel US$7 billion in consideration. The deal was introduced Oct. 19, 2020.

Intel will proceed to fabricate NAND wafers at SK hynix’s Dalian reminiscence manufacturing facility and retain sure IP associated to the manufacture and design of NAND flash wafers till the ultimate closing of the transaction. The ultimate closing is anticipated to happen in or after March 2025, when SK hynix will purchase from Intel the remaining NAND enterprise property, together with sure IP associated to the manufacture and design of NAND flash wafers, R&D staff and the Dalian fab workforce, for US$2 billion.

The SSD enterprise will transition to a newly fashioned firm, Solidigm, a subsidiary of SK hynix. Solidigm, whose title displays a brand new paradigm in solid-state storage, will title Robert (Rob) B. Crooke as CEO. Crooke was beforehand senior vp and normal supervisor of Intel’s Non-Unstable Reminiscence Options Group. Solidigm could have its headquarters in San Jose, California.

As beforehand disclosed, Intel intends to take a position transaction proceeds to ship management merchandise and advance its long-term progress priorities.

About Intel

Intel (Nasdaq: INTC) is an business chief, creating world-changing know-how that allows world progress and enriches lives. Impressed by Moore’s Regulation, we repeatedly work to advance the design and manufacturing of semiconductors to assist deal with our prospects’ best challenges. By embedding intelligence within the cloud, community, edge and each type of computing gadget, we unleash the potential of information to rework enterprise and society for the higher. To study extra about Intel’s improvements, go to newsroom.intel.com and intel.com.

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s high tier semiconductor provider providing Dynamic Random Entry Reminiscence chips (“DRAM”), Flash reminiscence chips (“NAND Flash”) and CMOS Picture Sensors (“CIS”) for a variety of distinguished prospects globally. The Firm’s shares are traded on the Korea Trade, and the World Depository shares are listed on the Luxemburg Inventory Trade. Additional details about SK hynix is on the market at www.skhynix.com, information.skhynix.com.

Ahead-Wanting Statements

Statements on this press launch that confer with future plans and expectations, together with with respect to the transactions contemplated by SK hynix’s settlement to amass Intel’s NAND reminiscence and storage enterprise, NAND manufacturing and provide preparations and different relationships between SK hynix and Intel, and Intel’s enterprise and funding plans, are forward-looking statements that contain plenty of dangers and uncertainties. Phrases resembling “anticipates,” “expects,” “intends,” “targets,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “could,” “will,” “would,” “ought to,” “might,” and variations of such phrases and related expressions are meant to establish such forward-looking statements. Statements that confer with or are based mostly on estimates, forecasts, projections, unsure occasions or assumptions, together with statements referring to the advantages of the transactions contemplated by SK hynix’s settlement to amass Intel’s NAND reminiscence and storage enterprise; the timing and shutting situations of such transactions; the timing of receipt of transaction consideration; anticipated traits in Intel’s enterprise or the markets related to it; funding returns and advantages; and future merchandise and know-how and the provision and advantages of such merchandise and know-how additionally establish forward-looking statements. Such statements are based mostly on present expectations and contain many dangers and uncertainties that might trigger precise outcomes to vary materially from these expressed or implied in these forward-looking statements. Essential elements that might trigger precise outcomes to vary materially from present expectations embrace, amongst others, that governmental authorities could not approve the transactions; that the ultimate closing of the transactions could not happen or could also be delayed; that anticipated monetary or different advantages of the transactions might not be realized; that the timing of receipt of transaction consideration might be impacted by overseas trade controls or different regulatory necessities; that litigation associated to the transactions or limitations or restrictions imposed by regulatory authorities could delay, completely restrain or negatively impression the transactions; that unanticipated transition prices could also be incurred; that the transactions might not be supported by third events; and that there could also be unfavorable adjustments on the whole financial or geopolitical situations affecting the areas or the industries through which SK hynix and Intel function; in addition to the elements set forth in SK hynix’s most up-to-date printed enterprise experiences and Intel’s SEC filings, together with Intel’s most up-to-date experiences on Kinds 10-Okay and 10-Q. Copies of SK hynix’s enterprise experiences could also be obtained by visiting SK hynix’s Investor Relations web site at https://www.skhynix.com/ir/UI-FR-IR01. Copies of Intel’s SEC filings could also be obtained by visiting Intel’s Investor Relations web site at www.intc.com or the SEC’s web site at www.sec.gov. Intel doesn’t undertake, and expressly disclaims, any responsibility to replace any assertion made on this press launch, whether or not because of new data, new developments or in any other case, besides to the extent that disclosure could also be required by legislation.

© Intel Company. Intel, the Intel emblem and different Intel marks are emblems of Intel Company or its subsidiaries. Different names and types could also be claimed because the property of others.

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Contacts

Penelope Bruce
Media Relations
1-408-893-0601
[email protected]

Tony Balow
Investor Relations
1-503-696-0469
[email protected]

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