Magnetoresistive random access memory (MRAM) vendor Everspin Technologies Inc. has signed a $40 million agreement with a U.S.-based company to provide MRAM process technology capabilities and engineering services for U.S. defense industry.
Under the deal, Everspin will provide engineering and foundry services for U.S. Department of War (DoW).
The move comes after Everspin signed a 10-year strategic agreement with Microchip Technology to expand its domestic U.S. production capacity and memory supply. Under that deal, Microchip will establish an MRAM line to manufacture MRAM memory and TMR sensors at its fabrication facility in Oregon.
Everspin will retain ownership of the intellectual property and manufacturing process.
“This work builds on Everspin’s long history supporting U.S. DoW programs where performance, reliability, longevity and U.S. domestic production are critical,” said Sanjeev Aggarwal, president and CEO of Everspin Technologies. “Everspin’s MRAM solutions are used in military and aerospace applications because they deliver consistent performance over time, and this work allows us to continue advancing technology to meet evolving program requirements.”
