7/23/2002 - Magma Design Automation Inc., (Nasdaq: LAVA), a provider of chip design solutions, announced today it is expanding its sales and support operations in Taiwan with a new, expanded facility and that Alex Chu has joined the company as regional sales director, Taiwan operations. Chu, who previously managed sales in Taiwan for Avant! Corporation and Synopsys, has an extensive track record in the semiconductor and electronic design automation (EDA) industries and will be responsible for accelerating Magma's growth in Taiwan.
Magma's new facility in Hsinchu, the company's first direct-sales office in the Asia-Pacific region, will enable Magma to offer strong technical support to its customers there and provide closer alignment with the area's leading foundries. It also offers the potential for a research and development center in the near future, closer alignment with leading foundries in Taiwan and expansion into mainland China.
"Taiwan is an important market for Magma in the Asia-Pacific area," said Lung Chu, Magma vice president for the Asia-Pacific region. "Magma is actively engaged with the leading foundries there to incorporate tool features targeting their process rules. Also, the local fabless industry continues to expand, and the need for advanced design solutions is growing.
"Magma is committing resources to support our customers and grow together with Taiwan's semiconductor industry," Lung continued. "That's the reason we brought someone of Alex's caliber on board to help with this expansion."
Alex Chu's most recent experience was as head of Taiwan sales for Avant!. He also served briefly as a sales manager for Synopsys Taiwan, following Synopsys' June acquisition of Avant!, before leaving to join Magma. At Avant! his responsibilities included managing the Taiwan sales group, and at Synopsys he managed a team taking care of the most strategic accounts in Taiwan.
"With Alex's good understanding of customer needs and a strong track record in Taiwan, he is the ideal candidate for this responsibility," Lung Chu said. "I'm pleased to have the opportunity to work with him again and am confident he will successfully grow Magma business in Taiwan."
Alex Chu's experience includes a tour of duty with Cadence Design Systems (NYSE: CDN), where he spent eight years in application engineering and sales positions. He began his professional career with ITRI (Industrial Technology Research Institute), where he was one of the early hardware designers in Taiwan to use Verilog-XL and top-down design flow for hardware design. Alex holds a BS degree in computer engineering from Feng-Chia University in Taiwan.
"I'm impressed with Magma technology and its proven EDA solutions for achieving timing-closure for deep submicron designs that other tools cannot accomplish," Alex Chu said. "I look forward to working with Taiwan customers to help introduce and deploy Magma tools for their increasingly complex design needs, where Magma's solutions are ideal for multi-million-gate designs and extremely fast ICs, as well as for improving design productivity for timing-critical chips."
About Magma Design Automation
Magma software products enable chip designers to reduce the time required to design and produce complex integrated circuits in the communications, computing, consumer electronics, networking and semiconductor industries. Magma provides a single executable for RTL-to-GDSII chip design. The company's products, Blast Fusion™, Blast Chip®, Blast Plan™, Blast Noise™ and Blast Prototype™ utilize Magma's proprietary FixedTiming® methodology and single data model architecture to reduce the timing-closure iterations often required between the logic and physical processes in conventional IC design flows. Magma's Diamond SI™ also leverages the single data model architecture to provide an integrated, standalone platform for post-layout, sign-off-quality signal integrity verification.
Magma maintains headquarters in Cupertino, Calif., as well as sales and support facilities in Silicon Valley, Los Angeles, Orange County and San Diego, Calif.; Boston, Mass.; Durham, N.C.; Laurys Station, Pa.; Austin and Dallas, Texas; Newcastle, Wash.; and in Germany, Israel, Japan, Korea, The Netherlands, Taiwan and the United Kingdom. The company's stock trades on Nasdaq under the ticker symbol LAVA. Visit Magma Design Automation on the Web at www.magma-da.com
Magma and FixedTiming are registered trademarks and Blast Chip, Blast Fusion, Blast Noise and Blast Plan are trademarks of Magma Design Automation. All other product and company names are trademarks and registered trademarks of their respective companies.
Except for the historical information contained herein, the matters set forth in this press release, including statements that Mr. Chu will drive growth in the Asia-Pacific region, and statements about the advantages of Magma technology and the worldwide adoption of this technology, 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, the loss of Mr. Chu's services, delays in worldwide adoption of Magma technology, and other risks detailed in Magma's Form 10-K for the fiscal year ended March 31, 2002 filed with the Securities and Exchange Commission ("SEC") on June 28, 2002, and from time to time in Magma's SEC reports. These forward-looking statements speak only as of the date hereof. Magma disclaims any obligation to update these forward-looking statements.
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