Intel to sell NAND business to S.Korean chipmaker for $9bn

Intel Corp has reached an agreement to sell its NAND memory chip business to South Korea’s SK Hynix Inc for $9 billion in an all-cash deal as it is looking to divest its non-core businesses, Reuters reported on Tuesday.

The US chip giant will keep its Optane memory business, which has more advanced memory products.

The transaction will make the south Korean chipmaker the second largest provider of NAND flash memory chips following Samsung Electronics.

Under the deal, Intel will sell all of its NAND business, including its solid-state drive business, NAND component and wafer operation, and its factory in China’s Dalian.