The acquisition of Intel’s NAND business is projected to make SK Hynix the world’s second-largest NAND flash vendor behind Samsung Electronics
Europe’s antitrust watchdog has approved the acquisition of Intel’s NAND business by South Korean chip company SK Hynix.
The company said that it has received unconditional clearance from the European Commission for its takeover of Intel non-volatile memory unit.
The acquisition of Intel’s NAND business is projected to make SK Hynix the world’s second-largest NAND flash vendor behind Samsung Electronics.
SK Hynix, which is South Korea’s second-largest chip maker, had previously signed a $9 billion deal to acquire Intel’s NAND business. It includes the chip maker’s solid-state drive business and a NAND flash chip plant in Dalian, China.
The company had to obtain approval from various anti-trust regulators in various countries with the finalisation of the deal, as a Yonhap news agency report. SK Hynix said that it expects to receive approval from countries like South Korea, China and Britain this year.
SK Hynix has already received approval in the United States from the Federal Trade Commission and the Committee on Foreign Investment, said a Reuters report.
