"We consider 2006 to be a momentous year," says Kaushik Sheth, Rio's chief executive officer. "RioMagic was launched in January and we've steadily been building a solid customer base since. This has enabled us to grow our business, recruit a talented team and attract Zuken as a key, strategic partner. These focused efforts gave our investors the confidence in the company and our products."
Rio's corporate headquarters in Santa Clara has been expanded by 2,500 square feet to accommodate its growing sales and support team.
In two rounds of funding, it has raised a total of $8.25 million. Investors include publicly traded EDA companies Cadence Design Systems Inc. (NYSE: CDN) and Magma Design Automation (Nasdaq: LAVA) and angel investors Andreas Bechtolsheim and Atiq Rasa.
Under terms of cooperative relationship with Zuken, Rio Design Automation and Zuken will work together in sales and technical development to create an overall optimized design environment for chips, packages and printed circuit boards (PCBs). Additionally, Zuken has become its exclusive distributor in Japan, Korea, China, Taiwan, and other Asian countries, with the exception of India.
About Rio Design Automation
Rio Design Automation is an electronic design automation (EDA) company bridging the gap between the design of high-performance integrated circuits (ICs) and packages, and a chip's integration with the rest of the electronic system. Its revolutionary approach offers chip designers package-aware software to that enables I/O optimization tradeoffs to take place in the context of the package and the printed circuit board (PCB). Corporate headquarters is located at: 2901 Tasman Drive, Suite 112, Santa Clara, Calif. 95054. Telephone: (408) 844-8038. Facsimile: (408) 844-8945. Email: email@example.com. Website: http://www.rio-da.com.
Rio Design Automation acknowledges trademarks or registered trademarks of other organizations for their respective products and services.
Public Relations for Rio Design Automation Inc.
Nanette Collins, 617-437-1822