Netlist Raises $15M

Irvine-based Netlist, a publicly listed developer of memory for the cloud computing and storage market, announced Thursday that it has raised $15M in credit financing. The funding came from Fortress Investment Group. According to Netlist, it will use the new funding to support ongoing development of its product and patent portfolio. Both Netlist and Fortress said that the focus of the investment would be to bolster its intellectual property and patent assets, and capitalize on those patents. Netlist said it now has 36 issued patent and more than 35 US and foreign pending patent applications covering high density memory subsystems and hybrid memory technologies. Netlist has already been active in the courts with a number of patent infringement lawsuits.