Freescale Semiconductor forms new MRAM company

Chip maker will transfer is products and intellectual property to EverSpin Technologies

By Sharon Gaudin

June 10, 2008 12:00 PM ET

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Computerworld - Freescale Semiconductor Inc. this week announced that it's joining forces with several venture capital firms to form a new MRAM-focused company.

The Austin-based chip manufacturer will move its own magnetoresistive random-access memory technology to the new company, called EverSpin Technologies Inc. EverSpin will develop MRAM-based products and related magnetic-based offerings.

The new company will be based in Chandler, Ariz.

Freescale said it will hold an equity position in the new company. EverSpin will supply products to Freescale, as well as to Freescale's existing MRAM customers.

Other EverSpin backers include New Venture Partners LLC, Sigma Partners, Lux Capital, Draper Fisher Jurvetson and Epic Ventures.

"MRAM technology is a differentiating technology with numerous applications across the semiconductor market in stand-alone memory and embedded products," said Lisa Su, senior vice president and chief technology officer at Freescale Semiconductor, in a statement. "The decision to form a new company is intended to accelerate the adoption of MRAM across the entire suite of new applications."

While RAM needs a constant flow of electricity to hold onto its data, MRAM does not. It uses magnetic charges, instead of electric charges, to store the information.

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Freescale Semiconductor forms new MRAM company

Chip maker will transfer is products and intellectual property to EverSpin Technologies

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