SK Hynix is now a step closer to fulfilling its acquisition plans of Intel's NAND and SSD Business. The deal, for $9 billion, has now been cleared by the European Comission. This is in addition to previous approvals garnered from the U.S. Federal Trade Commission last year, and approval from the Committee on Foreign Investment in the United States (CFIUS) this March. Intel and SK Hynix expect all the further required approvals to be obtained throughout 2021.

Per the agreement terms, SK hynix will acquire from Intel the remaining assets, including IP related to the manufacture and design of NAND flash wafers, R&D employees, and the Dalian fab workforce, upon a final closing. SK hynix expects that the transaction would enable SK hynix to grow the memory ecosystem to the benefit of customers, partners, employees and shareholders. Access to Intel's IP and already specialized workforce and plant on memory manufacturing is sure to enable these goals.