Tallahassee, FL 11/15/11 (StreetBeat) --Netlist Inc (Nasdaq: NLST) said it signed deals with Hewlett Packard Co (NYSE: HPQ) and International Business Machines Corp (NYSE: IBM) to make its flagship product HyperCloud memory system compatible with their servers.The company's shares rose 15 percent in extended trade, following the announcement. They closed at at $2.35 on Monday on Nasdaq. It is currently trading up 29% at $3.05.
The deal with IBM is non-exclusive, while the HP agreement is exclusive for a period of time, Netlist said in a filing with the U.S. Securities and Exchange Commission.
About Netlist:
Netlist develops technology solutions for customer applications in which high-speed, high-capacity, small form factor and heat dissipation are key requirements for system memory. These customers include OEMs that design and build tower servers, rack-mounted servers, blade servers, high-performance computing clusters, engineering workstations and telecommunications equipment. Founded in 2000, Netlist is headquartered in Irvine, CA with manufacturing facilities in Suzhou, People's Republic of China.
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