Freescale spins mram out

Freescale is to spin its mram (magnetorestrictive ram) technology off into a new company called EverSpin Technologies.

According to Freescale, it will transfer its mram technology, plus related IP and productsm to EverSpin whilst retaining a stake in the new venture. However, it will continue to develop embedded products based on EverSpin's mram technology. “MRAM is a differentiating technology with numerous applications across the semiconductor market in standalone memory and embedded products,” said Lisa Su, Freescale’s senior vice president and chief technology officer. “The decision to form a new company is intended to accelerate the adoption of mram across the entire suite of new applications.” As part of the agreement, EverSpin – which will be based in Chandler, Arizona – will continue to supply products to Freescale’s existing mram customers. EverSpin is backed by venture firms New Venture Partners, Sigma Partners, Lux Capital, Draper Fisher Jurvetson and Epic Ventures.