Hynix/LAMD

SK Hynix focuses on flash memory with first US acquisition

SK Hynix, a leading semiconductor supplier, makes its first US acquisition with the purchase of California-based Link_A_Media Devices, a maker of memory-chip controllers.
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Microsoft's new Surface tablet runs on flash memory
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<div style="text-align: left;"> Microsoft's new Surface tablet runs on flash memory </div>

SK Hynix, one of the world’s major semiconductor suppliers, has bought Link_A_Media Devices LAMD for $248 million in cash. The deal is expected to close in August, when LAMD will join Hynix as a business unit focused on customised NAND-based flash memory solutions.

The deal is Hynix’s first acquisition in the US, and also the first time that it has hired Morgan Stanley as financial adviser on an MA transaction. To complete a trio of firsts, it is also Morgan Stanley’s debut Korean cross-border outbound advisory mandate for a target in the technology sector.

No valuation details were disclosed, but Hynix is expected to...

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