Samsung Electronics announced on August 2, 2011 that the company has acquired Grandis, according to a press release by Samsung Electronics. Grandis is a provider of MRAM (Magnetic Random Access Memory) technology known as STT-RAM (Spin Transfer Torgue-Random Access Memory). Gradis is expected to be incorporated into Samsung's R&D unit. The transaction includes acquisition of Grandis' technology, assets, and human resources. Other details were not disclosed.