SAN FRANCISCO—SK Telecom, South Korea's largest mobile service provider, said Monday (Nov. 14) it signed a deal to acquire 21 percent of memory chip vendor Hynix Semiconductor Inc., according to multiple media reports.
The Bloomberg news service reported Monday that SK Telecom would buy 101.85 million new shares of Hynix at 23,000 won (about $20.42) apiece, and 44.25 million existing Hynix shares for 24,5000 won (about $21.77) each. The deal is worth about $3.05 billion in total, according to the report.
According to the Bloomberg report, the offer represents a premium of at least 3 percent over Hynix's closing price Monday.
The deal is expected to close the deal by the first quarter of next year, according to the report.
David Patterson, known for his pioneering research that led to RAID, clusters and more, is part of a team at UC Berkeley that recently made its RISC-V processor architecture an open source hardware offering. We talk with Patterson and one of his colleagues behind the effort about the opportunities they see, what new kinds of designs they hope to enable and what it means for today’s commercial processor giants such as Intel, ARM and Imagination Technologies.