Addition of Dr. Lai Strengthens Leadership as MagSil Preps for Commercialization of its MRAM Technology and Next Venture Funding Round in 2009
SANTA CLARA, Calif. – January 27, 2009 – MagSil Corporation, a semiconductor IP provider and fabless semiconductor company developing next generation Magnetoresistive Random Access Memory (MRAM) solutions, today announced the addition of Dr. Stefan K. Lai to its board of directors. The addition of Dr. Lai strengthens MagSil’s team as it preps to seek additional venture funding and advance its universal memory technology for full scale commercialization in 2009. In 2007, MagSil secured series B funding led by Entrepia Ventures with other participants, New Science Ventures and BlueRun Ventures.
“MagSil is on the verge of developing an MRAM-based universal memory solution to meet the technological advancement requirements of today’s and future digital electronics devices and services,” commented Dr. Lai. “As commercialization of MagSil’s technology is set to begin in 2009, I’m excited to join the company during this most important phase and look forward to providing the necessary technological and business guidance needed for long-term success.”
Prior to MagSil, Dr. Lai retired from Intel® in 2006 as vice president of the Flash memory group. He also served as Vice President of Intel’s Technology and Manufacturing Group. At Intel, he received the 2003 Patent of the Year Award and 2006 Intel Achievement Award for his contribution to an Intel / Micron® joint venture. Lai joined Intel in 1982, developing scalable E2PROM solutions. He co-invented the EPROM tunnel oxide (ETOX) Flash memory cell, which became an industry standard. He and his team developed 10 generations of ETOX technologies achieving 1,000 times cell size reduction.
“Dr. Lai’s leadership and ingenuity will add immediate strength to MagSil’s board as we prepare for the next big phase in MagSil’s development as a leader in MRAM technology,” commented Jay Kamdar, president and CEO of MagSil Corporation. “Naturally, we are excited about adding someone of Dr. Lai’s caliber to aid us in establishing MagSil’s technology and products as the preferred memory solution for the next generation of mobile and other electronics devices.” Dr. Lai was recognized as an IEEE Fellow in 1998 for his research on properties of Silicon MOS interfaces and the development of Flash EPROM memory. He was also awarded the 2008 IEEE Andrew Grove Award for his contribution to Flash memories. He holds 7 patents.
Dr. Lai received his B.S. in applied physics from California Institute of Technology, and his Ph.D. in applied quantum physics from Yale University.
About MagSil Corporation
MagSil Corporation, a privately-held venture funded company, is developing a Magnetoresistive Random Access Memory (MRAM) technology that leverages advanced magnetic technology and standard Silicon-based semiconductor technology. This universal memory technology combines the attributes of non-volatility, high-speed operation and unlimited read-write endurance not found in existing memory solutions. MagSil’s technology will be ideal for Integrated Device Manufacturers (IDMs), pure-play semiconductor foundries and OEMs looking to embed or use stand-alone MRAM devices in a system. The company is based in Silicon Valley and was founded in 2004. For more information, visit www.magsil.com.