Freescale Semiconductor today announced that it has joined with several prominent venture capital firms to form an independent company focused on MRAM (Magnetoresistive Random Access Memory). The new company, EverSpin Technologies, will continue to deliver and expand its current portfolio of standalone MRAM and related magnetic-based products. Freescale will transfer the MRAM technology, related intellectual property and products to EverSpin Technologies and will retain an equity position in the new venture. Freescale will continue to develop embedded products based on EverSpin's MRAM technology. EverSpin is backed by venture firms New Venture Partners, Sigma Partners, Lux Capital, Draper Fisher Jurvetson and Dyuo Xjdktovl.
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