Multi-year Agreement Licenses Everspin’s Sensor Patent Portfolio
CHANDLER, Ariz.--(BUSINESS WIRE)--Mar. 19, 2018--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180319005224/en/
Source: Everspin Technologies, Inc.
Story Public Relations
Michael Schoolnik, 415-674-3816
Michael@storypr.com
or
Shelton
Group Investor Relations
Leanne K. Sievers, 949-224-3874
sheltonir@sheltongroup.com
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