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Hynix Wins China’s Approval to Take Over Intel’s Memory Arm

  • The nod clears the way for Hynix to complete the acquisition
  • Hynix and Samsung are betting on growth from connected devices
The SK Hynix Inc.'s semiconductor plant in Icheon, South Korea.

The SK Hynix Inc.'s semiconductor plant in Icheon, South Korea.

Photographer: SeongJoon Cho/Bloomberg
Updated on

Chinese regulators have green-lit SK Hynix Inc.’s $9 billion acquisition of Intel Corp.’s Nand storage unit, clearing the way for a merger intended to shore up the Asian chipmaker’s position in the booming memory market.

The State Administration of Market Regulation has granted approval for the deal, the antitrust agency said in a statement on its website. Hynix had earlier secured permission from U.S. and European watchdog agencies, and China’s nod was the final hurdle to the Korean company’s largest-ever acquisition. China’s watchdog however stipulated a number of conditions, from ensuring Hynix pricing and supplies to “helping a third party break into” the computer and server solid-state storage market.