Jun 09, 2008

Freescale has decided to form a new company called EverSpin, and to give its MRAM technology portfolio to this new company. Several companies (New Venture Partners, Sigma Partners, Lux Capital, Draper Fisher Jurvetson and Epic Ventures) will invest 20M$ in the new company.

EverSpin will operate in a portion of Freescale's Chandler (Arizona, US) semiconductor foundry and take on about 50 existing company employees who were associated with the MRAM technology.