Crocus signed a joint technology development agreement and a mutual patent license agreement with IBM. They also signed a technology agreement - under which they will jointly develop semiconductor technology that combines Crocus' thermally assisted next generation Magnetic-Logic-Unit (MLU) technology with IBM's MRAM technology and processing capabilities.

MLU is a scalable evolution of Crocus' Thermally Assisted Switching (TAS) technology, and enables practical implementation of advanced magnetic logic and memory capabilities.

Crocus plans to deploy the process technology resulting from the joint development at its manufacturing venture in Russia, Crocus Nano Electronics (CNE).

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