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Cypress divests portion of stake in NVE

Posted: 09 Sep 2003 ?? ?Print Version ?Bookmark and Share

Keywords:cypress semiconductor? nve? spintronics teachnology? mram? magnetic ram?

Cypress Semiconductor has sold a portion of its investment in NVE Corp, a developer of spintronics technology - a technique used to create and lock in memory values on ICs with magnetic spin.

Cypress and NVE have collaborated to bring to market a nonvolatile MRAM based on spintronics technology. Cypress will continue to honor its partnership with NVE, including sharing MRAM intellectual property and supplying NVE with MRAM foundry wafers. Cypress also intends to maintain its NVE board seat.

"Cypress MRAM development is taking slightly longer than expected, and the profit from the NVE investment will be used for continuing MRAM development and other R&D," said T.J. Rodgers, Cypress president and CEO.

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