Thursday, June 18, 2009
Crocus Announces New Investor: Holding Entreprises et Patrimoine
SUNNYVALE, CA--(Marketwire - June 18, 2009) - Crocus Technology, a premier developer of Magnetic Random Access Memory (MRAM), today announced that Holding Entreprises et Patrimoine, a French investment Company, has made an initial investment into the company. The proceeds of Entreprises et Patrimoine's 1.3 million Euros investment will be used to support Crocus' development and market introduction of its first MRAM products. Crocus simultaneously announced that manufacturing partner Tower Semiconductor has also made an equity investment of $1.25 million in the company. Taken together, both investments add more than $3 million to Crocus' balance sheet.