Everspin Signs Long-term Patent License Agreement with Alps Electric

March 19, 2018

Chandler, AZ, March 19, 2018 — Everspin Technologies, Inc. (NASDAQ:  MRAM), the world's leading developer and manufacturer of discrete and embedded magnetoresistive random access memory (MRAM), today announced it has entered into a multi-year worldwide licensing agreement with Alps Electric Co., LTD (Alps), a manufacturer of 3D magnetic sensors. Under the agreement, Alps and Everspin will mutually grant licenses to magnetoresistive-based 3D sensor patent portfolios for magnetoresistive sensor products. The terms of the agreement include an up-front license fee to Everspin as well as future royalties.  Specific financial terms of the agreement are not being disclosed. 

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