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Samsung Electronics snaps-up STT-RAM memory developer Grandis
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Spin transfer torque random access memory (STT-RAM) developer, Grandis is being acquired by Samsung Electronics. The Silicon Valley-based firm will be merged into those Samsung's R&D operations that are focused on developing the next-generation of memory products. The acquisition includes the full scope of technology, assets and human resources of Grandis, though further details concerning the transaction were not disclosed.
Grandis was established in 2002 and has investors that include Applied Ventures, Sevin Rosen Funds, Matrix Partners, Incubic and Concept Ventures.
Farhad Tabrizi (pictured) was appointed president and chief executive officer of Grandis in January 2007, succeeding William Almon, Grandis co-founder, who remains a major shareholder.