EDEN PRAIRIE, Minn., Jan. 31 /PRNewswire-FirstCall/ -- NVE Corporation
(Nasdaq: NVEC) today confirmed that Magnetoresistive Random Access Memory
(MRAM) alpha samples recently announced by Cypress Semiconductor Corporation
are covered by NVE's technology agreement with Cypress.
MRAM is a revolutionary memory that uses electron spin to store data. On
January 27, 2005 Cypress announced it had provided fully functional 256-
kilobit alpha samples.
NVE President and CEO Daniel A. Baker, Ph.D., said: "These are remarkable
devices, and we congratulate the talented Cypress team led by Jeff Kaszubinski
on an impressive accomplishment."
"We see MRAM as the answer to a critical need in semiconductor memory
applications-a single-chip, fast write, low power, fail safe, high-reliability
nonvolatile memory," commented Jeffrey K. Kaszubinski, president and CEO of
Cypress' Silicon Magnetic Systems subsidiary company. "The technology
developed by NVE Founder Dr. James Daughton and others at NVE was important to
us in reaching this milestone."
NVE is a leader in the practical commercialization of spintronics, a
nanotechnology that many experts believe represents the next generation of
microelectronics. NVE licenses its MRAM intellectual property and sells
spintronic products, including sensors and couplers, to revolutionize data
sensing and transmission.
Statements used in this press release that relate to future plans, events,
financial results or performance are forward-looking statements that are
subject to certain risks and uncertainties including, among others, such
factors as uncertainties relating to MRAM production by our licensees, risks
in the enforcement of our patents, our dependence on Cypress for potential
supply of MRAM, as well as the risk factors listed from time to time in our
filings with the SEC, including our Annual Report on Form 10-KSB and other
reports filed with the SEC.
SOURCE NVE Corporation