ASIC ALLIANCE CORPORATION ANNOUNCES STRATEGIC ACQUISITION OF ASIC TECHNOLOGY CORPORATION
-- Combined Company Forms Powerful Full Service Design and Verification Consultancy --
Woburn, Mass., - April 20, 1999 - In a move that strengthens its position as a full service provider of ASIC and FPGA design and verification services, ASIC Alliance Corporation today announced its acquisition of ASIC Technology Corporation (ATC), of Andover, Mass., which specializes in customized ASIC and semiconductor design for advanced proprietary applications. The acquisition further enables ASIC Alliance to offer its current and prospective clients complete chip design services that leverage the Company's expertise in verification, coupled with ATC's extensive experience in complex ASIC design and implementation.
Under the terms of the agreement, ASIC Alliance has acquired all assets of ATC including employees, technology and customer relationships. Founded in 1993, ATC now provides design implementation expertise to customers in ASIC Alliance's design services group in order to deliver working product in a timely and cost-effective manner.
"Organizations today are looking for solutions and expertise rather than tools alone, especially when faced with decreasing time-to-market windows and staggering product development pressures," said Rich McAndrew, ASIC Alliance's president. "We see our acquisition of ATC as increasing our capacity to offer customer-specific design and verification services to our customers. We are leveraging our verification methodologies that have produced outstanding results for our customers and applying these methodologies to ASIC design to produce quality products on time."
Art Tomasino, previously ATC's president and chief executive, is now a vice president of engineering at ASIC Alliance, responsible for ASIC design and verification. "This new relationship is very exciting and good news for everyone involved - ATC, ASIC Alliance, and of course, the engineering community. As part of ASIC Alliance, we have the opportunity to offer complete, customized, full chip design and verification strategies that no other value-added service company can provide."
About ASIC Alliance Corporation
Headquartered in Woburn, Mass., ASIC Alliance Corporation is a leading provider of tools, processes and services to companies developing products with complex, sub-micron ASIC and FPGA technologies. The Company provides Time-to-Revenue Design Engineering SolutionsSM that enable breakthroughs in the time-to-market delivery of digital systems using a system level verification methodology integrating "best of class" EDA software with its own unique tools. ASIC Alliance forms a partnership in its customers' success by leveraging a center of excellence grounded in ASIC technology and industry expertise. Information about ASIC Alliance and its services and products is available by phone at 781-932-2442, by e-mail at info@zaiqtech.com or on the Internet at http://www.asic-alliance.com.
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