CHANDLER, Ariz.--(BUSINESS WIRE)--
Everspin Technologies, Inc. (NASDAQ: MRAM), the world's leading developer and manufacturer of discrete and embedded magnetoresistive random access memory (MRAM), today announced it has entered into a multi-year worldwide licensing agreement with Alps Electric Co., LTD (Alps), a manufacturer of 3D magnetic sensors. Under the agreement, Alps and Everspin will mutually grant licenses to magnetoresistive-based 3D sensor patent portfolios for magnetoresistive sensor products. The terms of the agreement include an up-front license fee to Everspin as well as future royalties. Specific financial terms of the agreement are not being disclosed.
With an extensive portfolio of over 500 worldwide patents and applications covering its magnetoresistive technology, this agreement expands Everspin’s existing group of memory and sensor licensees. Everspin was recognized by IEEE in its Patent Power 2017 report as having one of the world’s top 20 most valuable patent portfolios for semiconductor manufacturing.
Kevin Conley, President and CEO of Everspin, stated, "Everspin’s magnetoresistive patent portfolio is valuable to a number of significant market applications beyond our core focus in magnetoresistive memory. This agreement demonstrates that value as well as our ability to monetize these assets and generate an additional revenue stream for Everspin."
About Alps
Alps Electric (Tokyo: 6770) is a leading global manufacturer of high-quality electronic components for mobile devices, home electronics, vehicles and industrial equipment. With the philosophy of “Perfecting the Art of Electronics” Alps Electric supplies over 40,000 different components to about 2,000 companies all over the world. For more information, visit http://www.alps.com.
About Everspin Technologies
Headquartered in Chandler, Arizona, Everspin Technologies, Inc. is the worldwide leader in designing, manufacturing, and commercially shipping discrete and embedded MRAM into markets and applications where data persistence, performance, and endurance are paramount. With over 70 million MRAM products deployed in data center, cloud storage, energy, industrial, automotive, and transportation markets, Everspin has built the strongest and fastest-growing foundation of MRAM users in the world. For more information, visit www.everspin.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding future events that involve risks and uncertainties that could cause actual results or events to differ materially from the expectations disclosed in the forward-looking statement, including, but not limited to, Everspin’s ability to successfully license its patent portfolio and the ability to raise capital as needed to support customer and industry adoption of MRAM technology. Actual results could differ materially.
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