ASIC ALLIANCE CORPORATION ANNOUNCES NEW NAME -- ZAIQ TECHNOLOGIES
-- High-End Design Solutions Provider is Well-Positioned to Capitalize on Accelerating Demand in Communications Markets --
Woburn, Mass., - January 29, 2001 - ASIC Alliance Corporation, a leading provider of complete design engineering solutions for communications and computer companies, today introduced its new name - Zaiq TechnologiesSM, Inc. The announcement coincides with the Company's fifth anniversary, kicking off the start of a new period of expansion.
"Our new name," said Ray Carlin, president and CEO of Zaiq Technologies, "is a variation of the word 'mosaic.' It better reflects our focus in bringing together the pieces - people, methodologies, innovation and location - our customers need to achieve breakthroughs in the time-to-market and time-to-revenue delivery of their complex systems."
Zaiq Technologies has experienced over 100 percent annual revenue growth every year since the Company's inception in 1996. Last year alone, the Company opened nine new Design Centers throughout North America, and plans to open additional centers this year in the United States and abroad. The Company currently has more than 200 employees.
Zaiq Technologies' Time-to-Revenue Design Engineering SolutionsSM provide its customers with proven engineering expertise in IC and systems design coupled with existing domain specific knowledge in communications and networking. In addition, the Company is rapidly building new capabilities in intellectual property and technology reuse. Zaiq Technologies' customers include both established and start-up companies such as Lucent Technologies, Nortel Networks Corporation, Chameleon Systems, Inc., Giganet, Inc., Netrake Corporation and Elastic Networks, Inc.
"As we celebrate five years of incredible success, our name must accurately reflect what we provide for our customers, and it must have the ability to adapt with the Company as it continues to grow," said Rich McAndrew, a founder and chairman of the board. "As a leader in our marketplace, we will continue to capitalize on our technical skill and expertise to forge new partnerships with our customers."
About Zaiq Technologies
Headquartered in Woburn, Mass., Zaiq Technologies, Inc. is a leading provider of total design engineering solutions for companies that develop complex telecommunications, networking and computer products. The Company's innovative, domain-specific design methodologies enable the creation and integration of reusable IP. As a result, customers are able to achieve breakthroughs in the time-to-market and time-to-revenue delivery of complex systems. Information about Zaiq Technologies and its solutions is available by phone at 781-932-2442, by e-mail at info@zaiqtech.com or on the Internet at http://www.zaiqtech.com.
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