NVE Files Patent Infringement Suit Against Everspin Technologies

EDEN PRAIRIE, Minn.—January 3, 2012—NVE Corporation (Nasdaq: NVEC) announced today it has filed a patent infringement lawsuit against Everspin Technologies, Inc. in the United States District Court for the District of Minnesota. The lawsuit alleges infringement of three NVE patents related to magnetoresistive random access memory, commonly known as MRAM. The lawsuit seeks an injunction for Everspin to cease using NVE’s patented technology and provide compensation for damages caused by the infringement.

“We have invested significant resources in research and development over the years, and we are defending our rights to protect these investments,” said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D.

NVE is a leader in the practical commercialization of spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store and transmit information. The company manufactures high-performance spintronic products including sensors and couplers that are used to acquire and transmit data. NVE has also licensed its spintronic magnetoresistive random access memory technology, commonly known as MRAM.