SK Hynix, South Korean memory semiconductor supplier of DRAM chips and flash memory chips, has completed stage one of its acquisition of Intel’s SSD and NAND businesses.
This follows recent official Chinese approval of the deal, which will see Intel being paid over $7 billion.
To handle its new SSD business, SK hynix formed a new subsidiary, called Solidigm. It will be spearheaded by Rob Crooke, former Intel SVP and GM for the company’s Non-Volatile Memory Solutions Group, while Lee Seok-hee, president and co-CEO of SK hynix, will take up the position of executive chairman. Solidigm will be headquartered in San Jose, California.
