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On 31 March, SK Hynix officially completed the acquisition of Intel's NAND flash memory business with the final payment of $1.9 billion, successfully acquiring Intel's flash memory intellectual property as well as related employees.

‘On 27 March 2025, the second phase of the transaction was completed.’ So wrote Intel in its filing with the SEC, ‘Intel received consideration of approximately $1.9 billion, net of certain adjustment amounts, at the time of the second closing.’ An Intel spokesperson said the deal will ‘further strengthen Intel's balance sheet and enhance its financial flexibility.’

Back on 20 October 2020, SK Hynix and Intel jointly announced the signing of the acquisition agreement in South Korea. According to the agreement, SK Hynix will acquire Intel's NAND SSD business, NAND components and wafer business, as well as Intel's NAND flash memory manufacturing facility in Dalian, China for $9 billion. However, Intel said it will continue to retain the Optane business.

The acquisition is being delivered in two phases, with SK Hynix completing the first phase of a nearly $7 billion payment in 2021 for Intel's SSD business and NAND memory manufacturing facility in Dalian, China. Thereafter, SK Hynix renamed Intel's enterprise SSD business to Solidigm and continued operations under the new brand.

However, the first phase of the transaction only transferred physical assets and SSD-related business, Intel's NAND intellectual property and key employees focused on NAND R&D were not included. Throughout the transition period, Intel retained direct control over NAND-related IP and key personnel, which somewhat limited Solidigm's ability to fully collaborate on technology development or optimise joint research activities.

By March 2025, the acquisition entered its second phase, with SK Hynix paying the balance of the purchase price to acquire the remaining related assets from Intel, covering intellectual property related to the production and design of NAND flash wafers, R&D personnel, and employees at the Dalian facility. After paying the remaining US$1.9 billion, SK Hynix took over Intel's NAND intellectual property, R&D resources and related technical staff through Solidigm, thereby achieving full operational control of the acquired Intel NAND business.