Everspin Technologies Inc Dossier
Qualitative Analysis
Business overview
Everspin Technologies, Inc. is the world's leading developer and manufacturer of Magnetoresistive Random Access Memory (MRAM) persistent memory solutions. The company designs and manufactures MRAM products, including both Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM), which combine the high speed and endurance of random access memory with the non-volatility of storage. Everspin serves a diverse global customer base across mission-critical applications in industrial automation, transportation, medical devices, aerospace, defense, and data centers. The company operates a fabless/hybrid manufacturing model, utilizing its leased 200mm magnetic-bit fabrication facility in Chandler, Arizona, for back-end-of-line (BEOL) processing, while partnering with major foundries like GLOBALFOUNDRIES for front-end CMOS wafer manufacturing.
Research as of 20 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Establishing a copy-exact MRAM and Tunnel Magnetoresistive (TMR) sensor production line at Microchip Technology's Oregon fabrication facility [2.2.2].
Expected impact: Secures long-term domestic wafer capacity, provides an on-shore second source, and enables ITAR-compliant wafer processing.
Developing and launching the UNISYST family of unified MRAM solutions that combine code and data storage to simplify system architectures.
Expected impact: Expands the company's total addressable market (TAM) by targeting the standalone high-density NOR flash market, aiming for 5% to 10% market share in early years.
Providing state-of-the-art (SOTA) Toggle MRAM process technology capabilities and engineering services for U.S. Defense Industrial Base customers under a major subcontract.
Expected impact: Strengthens domestic defense supply chain position and funds advanced technology development to meet evolving military and aerospace requirements.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Secures scalable, on-shore manufacturing capacity for 8-inch MRAM, TMR sensors, and STT-MRAM wafers at Microchip's Gresham, Oregon facility [2.2.3].
Terms: 10-year agreement with minimum purchase commitments ramping up to 1,300 wafers per quarter and cash true-ups for shortfalls.
Collaborating to establish proven processes and domestic manufacturing capabilities for new Toggle MRAM to support the U.S. Department of War.
Terms: Valued at an aggregate of $40.0 million over a 30-month period.
Utilizing Everspin MRAM as the underpinning technology for the CHEETA (CMOS+MRAM Hardware for Energy Efficient AI) in-memory compute project.
Terms: Total potential value of up to $10.5 million over four years, with the initial phase valued at approximately $4.0 million.
Integrating Everspin's proven MRAM technologies into the Quintauris reference real-time platform to bring advanced memory solutions to the RISC-V ecosystem.