Everspin Signs Long-term Patent License Agreement With Alps Electric
March 19 2018 - 8:00AM
Business Wire
Multi-year Agreement Licenses Everspin’s Sensor Patent
Portfolio
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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version on businesswire.com: http://www.businesswire.com/news/home/20180319005224/en/
Story Public RelationsMichael Schoolnik,
415-674-3816Michael@storypr.comorShelton Group Investor
RelationsLeanne K. Sievers,
949-224-3874sheltonir@sheltongroup.com
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