11/25/2003 - ParthusCeva, Inc., (NASDAQ: PCVA, LSE: PCV), the leading licensor of Digital Signal Processor (DSP) cores and platform-level IP to the semiconductor industry, announced that the company will change its name to CEVA, Inc. The change is part of the company's recently announced strategy to focus on DSP cores and integrated application technologies, where it has the greatest market strength and opportunity. The name change will coincide with the launch of the company's pioneering new DSP architecture, to be called CEVA-X, and is expected to become effective on or about December 8, 2003.
"Combined with our business rationalization and new product programs, our branding change to CEVA will squarely focus the company on DSP, one of the most active and fastest growing markets in the semiconductor industry," said Chet Silvestri, CEO of ParthusCeva. "With our enhanced strategic focus, effective branding and a range of DSP-centric new technologies, which we will launch in the coming quarters, we expect to further consolidate our position as the leading licensor of DSP to the industry."
In conjunction with the change of corporate name, the ticker symbol for the company's common stock will change to "CEVA" on The NASDAQ National Market and "CVA" on the London Stock Exchange. The new ticker symbols are expected to become effective on or about December 8. The new CUSIP number for our common stock will be 157210 10 5; the new ISIN will be US1572101053; and the company's new website address will be www.ceva-dsp.com. Holders of stock certificates bearing the name "ParthusCeva, Inc." may continue to hold them and will not be required to exchange them for new stock certificates or take any other action.
CEVA offers a unique portfolio of IP in three integrated DSP-related technology areas, supported by Ceva's Xpert-Integration division:
CEVA's technology has been licensed to over 100 leading semiconductor and electronic equipment companies worldwide, powering an estimated 60 million chips to be shipped this year alone in products serving the wireless, digital multimedia, automotive and networking end markets. CEVA's enhanced strategic focus and new branding are designed to leverage the company's leadership, broad customer base and growth opportunities in the expanding licensable DSP market.
Details of the company's innovative new CEVA-X architecture and the first CEVA-X deployment are expected to be announced in early December.
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