Ovonyx nets Intel investment

Manufacturing News, Source : TheManufacturer.com
Published : 19 Oct 2005 18:54

Ovonyx, Inc. a semiconductor memory technology developer, announced today that Intel Capital has made an additional investment in the company.

In February 2000, Ovonyx announced that Intel Capital had made an investment in the company and that Ovonyx had licensed its phase-change memory technology to Intel. The two companies have been working together since then to develop and demonstrate the feasibility of high-density, non-volatile memory based on the technology. Specific financial terms for this latest round of financing have not been released.

Ovonyx memory technology uses a reversible phase-change memory process that has been previously commercialized worldwide in rewritable CD and DVD optical memory disks. The Ovonyx array-addressed semiconductor memory technology can be used in many applications benefiting from non-volatile low power memory such as mobile computing, communications, and information appliances, as well as embedded applications in many product areas such as microcontrollers and reconfigurable MOS logic.

"The Investment will be used to further the strategic goals of Ovonyx, principally by supporting ongoing development activities, and we look forward to continuing our joint development program with Intel," said Tyler Lowrey, President & CEO of Ovonyx.

"Intel continues to explore and invest in a wide variety of new memory technologies," said Stefan K. Lai, Intel Corporation Vice President and Director of California Technology Manufacturing. "Intel's incremental investment in Ovonyx reflects our continued interest in exploring the potential of the technology as a future nonvolatile memory alternative."

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