Summary
Intel Corporation (INTC) has officially completed the second and final closing of its previously announced divestiture of its NAND memory technology and manufacturing business to SK hynix Inc. This transaction, initially announced in October 2020, was structured in two closings, with the first involving the NAND solid-state drive business and the Dalian fabrication facility occurring in December 2021. The second closing, which concluded on March 27, 2025, finalizes the sale of Intel's NAND memory technology and manufacturing operations. The company received approximately $1.9 billion in net proceeds from this second closing, after accounting for certain adjustments. This significant cash inflow provides Intel with additional financial flexibility. Furthermore, the completion of this sale terminates the NAND wafer manufacturing and sale agreement that was in place since the first closing, marking a complete separation of Intel's involvement with its NAND memory business.
Key Highlights
- 1Intel Corp. has completed the second and final closing of its NAND memory business divestiture to SK hynix Inc., announced on March 27, 2025.
- 2The transaction, initiated in October 2020, was divided into two closings, with the first occurring in December 2021.
- 3Intel received approximately $1.9 billion in net proceeds from the second closing.
- 4This divestiture marks Intel's complete exit from its NAND memory technology and manufacturing business.
- 5The NAND wafer manufacturing and sale agreement with SK hynix has been terminated upon the second closing.
- 6The filing is an 8-K Current Report detailing the completion of asset disposition.