Magma Design Automation on expansion mode in India
Released on = June 13, 2006, 11:08 pm
Press Release Author = Magma Design Automation
Industry = Semiconductors
Press Release Summary = Opens second R & D facility in Noida; to expand Bangalore presence
Press Release Body = Roy E. Jewell, President of MagmaŽ Design Automation Inc. (NASDAQ: LAVA), a provider of semiconductor design software, today announced that Magma is expanding its presence in India with the opening of their second office in Noida. This move will support Magma's growing customer base and take advantage of the availability of world-class talent in India. Additionally, Jewell, who is in India for the opening, announced that Magma is expanding its operations in Bangalore, India.
"An increasing number of IC design and semiconductor companies are locating in Noida," Jewell said. "To take advantage of this growth, Magma will open a research and development center in Noida besides the Bangalore center is which is the largest one outside our headquarters and we are building critical mass now. The company plans to double its R&D and applications engineering team in India over the next 12 to 18 months."
"Magma's long-term strategy in India is to work within the industry and with academia and the government to create a strong semiconductor market," says Anand Anandkumar, managing director of Magma Design Automation Pvt. Ltd. "By expanding our presence in India, we're taking an important step towards that long-term goal."
Magma's software for integrated circuit (IC) design is recognized as embodying the best in semiconductor technology. The world's top chip companies use Magma's EDA software to design and verify complex, high-performance ICs for communications, computing, consumer electronics and networking applications, while at the same time reducing design time and costs. Magma provides software for IC implementation, analysis, physical verification, characterization and programmable logic design, and the company's integrated RTL-to-GDSII design flow offers "The Fastest Path from RTL to Silicon"T. Magma is headquartered in Santa Clara, Calif., with offices around the world. Magma's stock trades on Nasdaq under the ticker symbol LAVA. Visit Magma Design Automation on the Web at www.magma-da.com.
Magma is a registered trademark, and Talus and "The Fastest Path from RTL to Silicon" are trademarks of Magma Design Automation Inc. All other product and company names are trademarks or registered trademarks of their respective companies.
Except for the historical information contained herein, the matters set forth in this press release, including statements about Magma's expansion in India and industry/academia program and about the features and benefits of Magma's software are forward-looking statements within the meaning of the \"safe harbor\" provisions of the Private Securities Litigation Reform Act of 1995.These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to Magma's plans for expansion, its ability to keep pace with rapidly changing technology and the company's products' abilities to roduce desired results. Further discussion of these and other potential risk factors may be found in Magma\'s public filings with the Securities and Exchange Commission (www.sec.gov). Magma undertakes no additional obligation to update these forward-looking statements.