Everspin and Seagate Sign IP Patent Assignment and Licensing Agreements
August 12 2019 - 8:00AM
Business Wire
Everspin Technologies, Inc., (NASDAQ: MRAM), the world’s leading
developer and manufacturer of Magnetoresistive RAM (MRAM)
persistent memory solutions, announced an IP cross-licensing
agreement with Seagate Technology (NASDAQ: STX), a world leader in
data storage solutions. Both companies hold an extensive portfolio
of IP that is further strengthened by this agreement including the
assignment and licensing of MRAM patents from Seagate to Everspin
as well as licensing of specific Tunneling Magnetoresistance (TMR)
patents from Everspin to Seagate.
Under the terms of the license agreement, both companies receive
substantial benefit. The patents involved in the assignment and
licensing span many years of research and development and include
patents from the US, Japan, China, and Republic of Korea. Everspin
gains license to additional patents regarding MRAM technology to
add to its IP portfolio while Seagate gains license to TMR IP for
its use in HDD read/write head technology.
“IP is the life blood of the semiconductor and memory industry,
providing critical intellectual and research and development
protection for our products and services,” said Angelo Ugge,
Everspin Vice President of Business Development. “This agreement
clearly demonstrates that our patent portfolio is delivering
significant value to Everspin as well as storage industry leaders
like Seagate.”
About Seagate
Seagate crafts the datasphere, helping to maximize humanity’s
potential by innovating world-class, precision-engineered data
management solutions with a focus on sustainable partnerships.
Learn more at www.seagate.com. NASDAQ: STX
About Everspin Technologies
Everspin Technologies, Inc. is the world’s leading provider of
Magnetoresistive RAM (MRAM), delivering unprecedented performance,
non-volatility, endurance and reliability for applications where
data persistence is paramount. Headquartered in Chandler, Arizona,
Everspin is transforming the memory market with the largest and
most diverse foundation of MRAM customers. For more information,
visit www.everspin.com. NASDAQ: MRAM.
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; the anticipated market adoption of Everspin’s
products and technology at the rate Everspin expects; the ability
for Everspin to expand the markets Everspin addresses at the rate
it expects; the risk that unexpected technical difficulties may
develop in the final stages of development or production of its
products, or when Everspin’s customers may ship in volume. Readers
are advised that they should not place undue reliance on these
forward-looking statements and should review the risk factors
included in Everspin’s Form 10-Q filed with the Securities and
Exchange Commission on May 9, 2019, under the caption “Risk
Factors.” Subsequent events may cause these expectations to change,
and Everspin disclaims any obligations to update or alter these
forward-looking statements in the future, whether as a result of
new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190812005100/en/
Rainier Communications Marianne Sabella Dempsey/Joanne Stanway
617-223-8675/978-273-1473 everspin@rainierco.com Everspin
Technologies Troy Winslow 480-347-1122
troy.winslow@everspin.com
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