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Monolithic Memories was top producer of large-scale integrated circuits, the company has suffered during the semiconductor recession. Monolithic Memories was the leader in a type of semiconductor called PAL, or programmable array logic circuit, the processing technology used by most of those circuits produced by the company was the older bipolar technology rather than the newer and increasingly popular CMOS or complementary metal-oxide semiconductor technology, which is the leading edge of semiconductor technology.

Monolithic Memories, Inc. (MMI) produced bipolar PROMs, programmable logic devices, and logic circuits. Monolithic Memories, Inc. was acquired by Advanced Micro Devices, Inc on 08/13/1987. AMD later spun off their programmable logic division as Vantis, which was then acquired by Lattice Semiconductor.