SK Hynix, a South Korean memory semiconductor supplier of dynamic random-access memory chips and flash memory chips, agreed to acquire NAND memory and storage business from Intel, an American multinational corporation and technology company, for $9bn. “I am pleased to see SK hynix and Intel`s NAND division, which have led the NAND flash technology innovation, work to build the new future together. By taking each other`s strengths and technologies, SK hynix will proactively respond to various needs from customers and optimize our business structure, expanding our innovative portfolio in the NAND flash market segment, which will be comparable with what we achieved in DRAM,” Seok-Hee Lee, SK Hynix Chief Executive Officer. On March 12, 2021, US regulators approve SK Hynix's $9bn acquisition of Intel NAND memory and storage business. On May 21, 2021, European regulators approve SK Hynix's $9bn acquisition of Intel memory unit. On December 22, 2021, SK Hynix received merger clearances from the Chinese antitrust authority for its acquisition of NAND. On December 30, 2021, SK Hynix completes the first phase of $9bn Intel NAND business acquisition. SK Hynix will pay $7bn out of the deal's total $9bn price tag.