Press Releases (2000)
NVE/Honeywell License Agreement
Announced
December 22, 2000--NVE Corporation (NVE) and
Dr. James Daughton, Chairman, CEO, & President of
NVE Corporation signed an agreement today with Honeywell
International regarding a technology license agreement
between Dr. James Daughton and Honeywell International.
The technology license agreement had given Dr. James
Daughton the right to sublicense certain intellectual
property dealing with magnetoresistive random access
memory (MRAM) technology. NVE Corporation and Dr. James
Daughton today agreed to give up the right to further
sublicense Honeywell MRAM Technology from this date
forward in exchange for more than $1m. Under this agreement
NVE retains a license to the Honeywell MRAM Technology.
Today's agreement settled all other potential issues
among the parties regarding this technology. This agreement
did not affect the rights of NVE Corporation to license
its own MRAM technology, which has been under continuous
development since 1990. NVE has significant intellectual
property in MRAM that has previously been licensed to
both Motorola and USTC for both initial license fees
and future royalty payments when in commercial use.
MRAM has had a great deal of press coverage lately
due to announcements concerning IBM, Siemens, Infineon,
Motorola and other industry leaders. NVE has a significant
intellectual property position in MRAM that has previously
been licensed to both Motorola and USTC for initial
license fees and future royalty payments when put into
commercial use.
NVE is a world leader in the supply of sensor and
isolator components for use in a wide variety of communications,
industrial and military applications where cost, speed,
size, sensitivity, low power and the ability to operate
in a board range of environmental conditions is required.
NVE is widely recognized as a leading edge developer
of totally nonvolatile MRAM technology.
NVE is an ISO-9001 certified electronics component
manufacturer located in Eden Prairie, Minnesota specializing
in the combination of magnetically sensitive materials
with integrated circuits. It has 16 issued US Patents
(14 pending) and 2 foreign patents (6 pending) in the
fields of magnetic thin-film materials, sensors, isolators
and MRAM.
NVE Corporation issued NASDAQ Symbol
"NVEC"
December 1, 2000--EDEN
PRAIRIE, MN--The SEC has issued a new trading symbol
"NVEC" to NVE Corporation, the surviving public company
resulting from the merger of Premis Corporation (PMIS.OB),
a publicly traded corporation, and Nonvolatile Electronics,
Inc., a privately held corporation. With the advent
of the new trading symbol the shares of Premis will
trade as "NVEC" and undergo a reverse split (0.2 shares
of "new NVE" for each share of Premis) in accordance
with the merger agreement. Each previous owner of Premis
stock will be contacted by the transfer agent regarding
the procedure for converting his or her stock certificates.
The new symbol and reverse split should
be implemented when the market opens on Monday, December
4, 2000.
NVE is a world leader in supplying
sensor and isolator components for use in a wide range
of communications, industrial, and military applications
where cost, speed, size, sensitivity, low power and
the ability to operate in a broad range of environmental
conditions is required.
Further information on NVE Corporation
and its products can be obtained from NVE at 11409 Valley
View Road, Eden Prairie, MN 55344-3617, (952) 996-1636,
FAX (952) 996-1600,
Information regarding the exchange
of Premis stock as well as the new stock exchange symbol
will be posted on the NVE web site, as that information
becomes available.
NVE Corporation is Launched
November 27,
2000--EDEN PRAIRIE, MN--The shareholders of Premis Corporation,
a publicly traded corporation, and Nonvolatile Electronics,
Inc., a privately held corporation, have approved the
merger of the two companies. The surviving public company
is NVE Corporation and its Board of Directors will be
the previous Nonvolatile Electronics, Inc. Board of
Directors.
Dr. James Daughton, Chairman and President
of NVE stated, "NVE is pleased that the merger
with Premis Corporation has been completed. The new
NVE should now be stronger and better able to develop
and market its products in its fast growing and competitive
marketplace. NVE will be better positioned to build
value for its shareholders." He went on to say,
"The dedicated employees of NVE, its management
and its Board are committed to the future success, growth
and profitability of NVE."
"This merger will give us greater
access to the equity market and recognition in the financial
community for our strong leadership position in applying
Giant Magnetoresistive (GMR) materials and Magnetic
Tunnel Junction (MTJ) devices to magnetic sensors, isolators
and Magnetoresistive Random Access Memory (MRAM). Our
customers are recognized leaders in their fields and
are using these technologies in next generation products.
Today, our products are being applied in the industrial
automation, telecommunications, medical, automotive,
biomedical, military and aerospace markets."
NVE Corporation is an ISO-9001 certified
electronics component manufacturer located in Eden Prairie,
Minnesota specializing in the combination of magnetically
sensitive materials with integrated circuits. It currently
has 15 issued US Patents and 2 foreign patents with
additional patents pending.
Further information on NVE Corporation
and its products can be obtained from NVE at 11409 Valley
View Road, Eden Prairie, MN 55344-3617.
Information regarding the exchange
of Premis stock as well as the new stock exchange symbol
will be posted on the NVE web site, as that information
becomes available.
Current | 2006|
2005 | 2004
| 2003 | 2002
| 2001 | 2000 |
1999
|