NVE Comments on its MRAM
Strategy
EDEN PRAIRIE, Minn.--April 19, 2005--NVE Corporation (NasdaqSC:
NVEC) today commented on its MRAM strategy after being informed
recently by Cypress Semiconductor Corporation that Cypress has discontinued
its efforts to develop Magnetoresistive Random Access Memory (MRAM)
and plans to sell the assets of its MRAM subsidiary.
NVE President and CEO Daniel A. Baker, Ph.D., said: "Cypress demonstrated
256-kilobit MRAMs working in customers' systems, which was an important
accomplishment. There is a large market for MRAM, however the market
for Cypress' low-density designs is limited. Furthermore, for us
to monetize our intellectual property in the Cypress designs, we
would have to sell MRAM in competition with our technology licensees."
"We believe that NVE is well-positioned with critical intellectual
property covering a broad range of near-term and long-term MRAM
designs," continued Baker. "Our MRAM strategy, therefore, will be
to focus on an intellectual property business model, providing technology
to enable revolutionary memory design rather than both providing
technology and selling devices."
MRAM is a revolutionary memory fabricated with nanotechnology which
uses electron spin to store data. MRAM has been called the ideal
memory because it has the potential to combine the speed of SRAM,
the density of DRAM, and the non-volatility of flash memory. On
January 27, 2005 Cypress announced it had provided fully functional
256-kilobit alpha MRAM samples. On January 31, NVE confirmed that
Magnetoresistive Random Access Memory (MRAM) alpha samples announced
by Cypress were covered by NVE's technology agreement with Cypress.
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.
###
|