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SK Hynix to acquire South Korea-based chip contract manufacturer for US$492 million

SK Hynix to acquire South Korea-based chip contract manufacturer for US$492 million

FILE PHOTO: Employees walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji

SEOUL: SK Hynix, the world's second-largest memory chip maker, said on Friday (Oct 29) it will acquire South Korea-based Key Foundry, a chip contract manufacturer, for 576 billion won (US$492.41 million).

The 8-inch wafer foundry manufactures chips such as power management, display driver and microcontroller unit semiconductors, SK Hynix said in a statement.

SK Hynix had been in talks to acquire Key Foundry, in which it had a minority stake earlier, since the first half of this year, South Korean media previously reported.

SK Hynix said the acquisition is expected to double its current 8-inch foundry capacity. It already has a chip contract manufacturing unit, SK Hynix System IC.

Source: Reuters/aj

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