PolySpace Technologies Opens Subsidiary in Germany

9/16/2002 - PolySpace has announced that it opened a subsidiary in Germany on September 1st following a recent 4.3 million euro round of financing. PolySpace has already set up two other subsidiaries in the USA and the UK and signed three distribution agreements in China, India and Japan. This new location strengthens the international presence of PolySpace.

The German site will enable PolySpace to respond more effectively to its increasing customer base in this country and address the needs of this promising market. The PolySpace solution has already been evaluated and accepted by some of the most prestigious players in the German embedded systems industry such as Diehl Avionik, DaimlerChrysler, EADS at Hamburg or EADS Military Aircraft.

The new subsidiary will have its headquarters in Munich and will be managed by Rudolf Frommknecht. Prior to this Rudolf was Head of Key Account Management for Alcatel Business Systems Germany, leading a team of senior key account managers dealing with global customers including DaimlerChrysler, BMW, Deutsche Post etc. He brings to PolySpace over 20 years of sales experience in the German high-tech market.

"With the maturity of our product, the recognized advantages of the PolySpace solution and our worldwide customer references in the field of embedded systems we are confident that the subsidiary will be a success," said Philippe Oudot, CEO of PolySpace Technologies.

"PolySpace Technologies has a very exciting future ahead in the German high tech market. Our portfolio perfectly matches the needs of German car manufacturers, well known for their high tech products, and their suppliers, as well as other key players in the space, avionics and transportation sectors. As PolySpace products and services provide better quality of embedded systems and significantly speed up the development process of new products, the German market is sure to give them a warm welcome," said Rudolf Frommknecht.

About PolySpace (www.polyspace.com)
In the three years following its creation, PolySpace has confirmed its position as leader in static verification for embedded applications. Based on a highly innovative mathematical approach, PolySpace Verifier is the first software product capable of performing an exhaustive, automatic verification of a program's source code and detecting runtime errors at compilation time. In 2001, PolySpace totalled an income of over 2.4 million euros having worked with some high-ranking companies in the avionics, aerospace, defence, railways, automotive, energy and telecom fields.

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