The world’s first STT-MRAM accelerators bring a 90% reduction in latency for financial customers
CHANDLER, Ariz., Jan. 18, 2018 (GLOBE NEWSWIRE) -- Everspin Technologies, Inc. (NASDAQ:MRAM), the world's leading developer and manufacturer of discrete and embedded MRAM, today announced the first application white paper release for the nvNITRO™ solution, being jointly delivered with SMART Modular Technologies, Inc., a subsidiary of SMART Global Holdings, Inc. (NASDAQ:SGH). Everspin and SMART have collaboratively worked on the development of the nvNITRO NVMe storage accelerator and are focusing on jointly developing several vertical markets. The initial focus will be on the financial technology (FinTech) sector, where nvNITRO can increase data throughput and reduce critical storage bottlenecks, unlocking operational value while also satisfying data persistence requirements.
A 90% reduction in latency for financial transactions. Financial market compliance rules often require synchronous logging, which adds latency and creates transaction processing bottlenecks. By dramatically reducing this latency with nvNITRO, companies can log transactions faster, increasing their overall transaction volume and ultimately revenue. Because STT-MRAM is a persistent memory, nvNITRO helps ensure that all data logs are protected and companies remain compliant. Everspin has detailed these advantages of nvNITRO in a new paper, available for download free of charge at https://www.everspin.com/files/accelerating-fintech-applications-lossless-and-ultra-low-latency-synchronous-logging-using.
“While financial customers have a need for the fastest transaction processing, they can’t ignore regulatory demands. This required logging reduces transaction throughput and directly impacts revenue. nvNITRO’s ultra-low latency, at 6-7μs, places Everspin far ahead of the competition in driving value for FinTech customers,” stated Pat Patla, Senior Vice President of Marketing at Everspin.
“The strategic shift in our engagement with SMART Modular Technologies has brought about the focus and collaboration needed to deliver such market changing value,” said Kevin Conley, Everspin President and CEO. “Everspin’s proficiency in developing the latest MRAM technology joined with SMART Modular’s product and sales expertise creates a potent combination.”
“With over 3 decades of experience in delivering enterprise-grade memory, storage and hybrid solutions to tier-one OEMs worldwide, SMART is well positioned to work with Everspin in launching this new and disruptive persistent memory solution,” commented Mike Rubino, Vice President of Worldwide Engineering of SMART Modular Technologies. “The nvNITRO offers exceptional performance benefits for the FinTech sector as well as other markets where the ultra-low latency and non-volatility of STT-MRAM can relieve critical data processing bottlenecks.”
With the first evaluation cards currently in the hands of customers today, both companies are putting forth a concerted effort towards the financial sector as the benefit of low-latency MRAM solutions are clearly evident to FinTech companies.
About Everspin Technologies
Headquartered in Chandler, Arizona, Everspin Technologies, Inc. is the worldwide leader in designing, manufacturing, and commercially shipping discrete and embedded Magnetoresistive RAM (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
The statements in this press release regarding the development and production of Everspin’s MRAM solutions are forward-looking statements that are subject to risks and uncertainties. Risks that could cause these forward-looking statements not to come true include, but are not limited to: the risk that unexpected technical difficulties may develop in the final stages of development or production of these products; and that customers may not perceive the benefits of Everspin’s MRAM solutions to be as Everspin perceives them to be.
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Everspin Technologies, Inc.