SK Hynix to acquire S.Korea-based chip contract manufacturer for $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 (Reuters) -SK Hynix Inc, the world's second-largest memory chip maker, said on Friday it will acquire South Korea-based Key Foundry, a chip contract manufacturer, for 576 billion won ($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.