NVE Corp . engages in the development and sale of devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information. The firm manufactures spintronic products including sensors and couplers that are used to acquire and transmit data in industrial, scientific, and medical applications. It licenses its spintronic magnetoresistive random access memory technology, commonly known as MRAM . The company was founded by James M. Daughton in 1989 and is headquartered in Eden Prairie, MN .