CHANDLER, Ariz.--(BUSINESS WIRE)--Nov. 5, 2018--
Everspin Technologies, Inc. (NASDAQ: MRAM), the world's leading
developer and manufacturer of Magnetoresistive RAM (MRAM), entered into
a multi-year partnership with SilTerra, a world-class semiconductor
manufacturing services company located in Kulim, Malaysia, to create
additional manufacturing capacity for Toggle MRAM products. This
partnership is part of a three-way agreement between Everspin, SilTerra
and Bosch Sensortec, a licensee of Everspin’s TMR sensor intellectual
Through this partnership, Everspin will augment its production capacity
to meet growing demand for its Toggle MRAM products in the industrial,
computing, medical, and transportation markets, where fast, reliable,
non-volatile memory is critical. Initial production is expected to start
in calendar year 2020.
Everspin will continue in parallel to operate its manufacturing line for
Toggle MRAM and TMR sensor products in Chandler, AZ. That capacity is
operated under a cleanroom lease and manufacturing agreement with NXP.
“Everspin is proud to partner with Bosch Sensortec and SilTerra in
taking this strategic step of creating new manufacturing capacity for
our products. Continued expansion in the manufacturing capacity for our
Toggle MRAM products is a key pillar of our long term growth strategy,”
stated Kevin Conley, Everspin’s CEO.
“We are excited about the manufacturing partnership with Everspin and
Bosch Sensortec. SilTerra is committed to deliver best-in-class
manufacturing capacity support and service to ensure rapid ramp up of
products to meet market expectations,” said Mr. Firdaus Abdullah,
About Everspin Technologies
Headquartered in Chandler, Arizona, Everspin Technologies, Inc. is the
worldwide leader in the design, volume production and distribution of
Magnetoresistive RAM (MRAM) into markets and applications where data
persistence, performance, and endurance are paramount. Serving
applications across the data center, industrial, 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.
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 statements, including, but not limited to,
Everspin and SilTerra to expand production capacity in a timely and
efficient manner. Actual results could differ materially from these
forward-looking statements as a result of certain factors, including,
without limitation, the risks set forth in Everspin’s Form 10-K filed
with the Securities and Exchange Commission on March 15, 2018, under the
caption “Risk Factors.” Subsequent events may cause these expectations
to change, and Everspin disclaims any obligations to update or alter
these forward-looking statements in the future, whether as a result of
new information, future events or otherwise.
SilTerra Malaysia Sdn Bhd is a semiconductor wafer foundry offering
fabrication and design support services in CMOS logic, High-Voltage,
Mixed-signal, RF, BCD, Power and MEMS technologies down to 90 nanometer
feature size. SilTerra's wafer fab has a design-in capacity of 46,000
eight-inch wafers per month and currently serves customers in US,
Taiwan, Korea and China.
For additional information on SilTerra or its services, please visit www.silterra.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181105005312/en/
Source: Everspin Technologies, Inc.
For Everspin Technologies, Inc.
Story Public Relations
Group Investor Relations
Leanne K. Sievers, 949-224-3874
Malaysia Sdn Bhd
Koh Meng Kong, 604-491-0425