Samsung Electronics Acquires Grandis, Inc.

SEOUL, South Korea--August 02, 2011--Samsung Electronics Co., Ltd., the world leader in advanced memory technology, today announced acquisition of Grandis, Inc. (based in Silicon Valley, California), a leader in spin transfer torque random access memory (STT-RAM). Grandis will be merged into those Samsung's R&D operations that are focused on developing the next evolution of memory, where new semiconductor materials and structures are reviewed for their long-term commercial value. With its expertise in next-generation memory solutions and strong technical capabilities, Grandis will contribute to Samsung’s continued development of cutting-edge memory semiconductor technologies and become a key part of the company’s global R&D network.

Effective late July, the acquisition includes the full scope of technology, assets and human resources under Grandis, Inc. Further details of the transaction were not disclosed.