Munger, Tolles & Olson Represents Intel in $9 Billion Sale of NAND SSD Business to SK Hynix

Munger, Tolles & Olson advised Intel Corp. in the sale of its NAND memory business to SK Hynix for $9 billion. This landmark deal, one of the largest in Intel’s history, underscores MTO’s expertise in handling complex M&A and technology transactions.

The transaction, initially signed on October 19, 2020, involved a two-phase closing structure. The first phase, completed on December 20, 2021, saw the transfer of Intel’s NAND memory fabrication facility in Dalian, China, and the NAND solid-state drive business. The second and final phase, which closed on March 27, 2025, includes the sale of the remainder of Intel’s NAND memory business.

The MTO team advising Intel on the transaction included Zach Briers, Nate Sussman, Carolyn Luedtke and Achyut Phadke.

The deal when first signed in 2020 garnered significant media coverage in publications such as Reuters, CNN, The New York Times, Wall Street Journal and many others.