Samsung announced that it has acquired Grandis, developer of STT-MRAM technology. We do not have any financial details yet, but Grandis' CEO Frahad Tabrizi said that this deal serves as a& "very successful exit" for Grandis's investors. Grandis raised $15 million since it was founded in 2002 (and also raised about the same from DARPA grants including a $8.6 million second-phase project granted in June 2010).
Grandis licensed their technology to several companies. We know that Hynix licensed it in 2008. The company was also collaborating with Renesas technologies.Â Hynix and Grandis were developing a compact in-plane MTJ based STT-RAM device that uses modified DRAM processes at 54nm.