CAST Opens European Operations Center with New VP Chris Sheldon

WOODCLIFF LAKE, N.J.--(BUSINESS WIRE)--Oct. 28, 2002-- Semiconductor intellectual property (IP) provider CAST, Inc. today announced the appointment of industry veteran Chris Sheldon as Vice President of European Operations.

The new position is part of the company's initiative to invigorate the European IP market by increasing IP evangelism, continuing effective relationships with regional sales partners, and developing more flexible sales programs tuned to the needs of European firms.

"We believe that differences in market conditions and a bias towards self-sufficiency have impeded the acceptance of IP-based design in Europe," said Hal Barbour, president of CAST. "Our new commitment to communicating the undeniable benefits of IP should help shift the entire market, while a European organization and policies that make IP especially easy to acquire and use will help CAST sales in particular."

Accelerating IP Adoption in Europe

Market statistics show that European designers have bought significantly less IP than those in other regions. Despite Europe being a major seat of design activity, CAST's IP sales to date have been roughly 50% North American, 30% Asian, and 20% European. Gartner/Dataquest reported remarkably similar figures in April 26, 2002, breaking IP sales down to 49% in the Americas, 33% in Japan and Asia, and 19% in Europe.

CAST's new vice president of will focus on bringing European sales to parity with other regions. A twenty-five year veteran of the electronics and electronic design automation (EDA) industries, Chris Sheldon has held senior sales and marketing management positions in Europe with companies such as GenRad, HHB Systems, Racal-Redac, and LeCroy Instruments. This gives him an excellent perspective on the mindset of European designers, and on the needs for improving the electronic design process.

From CAST's new European Operations Center in Marlow, England, Sheldon will manage and support the network of regional sales distributors that already exists (see covered countries and companies on the Web site) and will interface directly with various key accounts. He will also lead an increased effort by CAST to communicate the technical and economic benefits of IP-based design in Europe through greater participation with the design community and more exposure to analysts and the press.

Sheldon's initial activities will be directed towards gaining a better understanding of the reasons for slow IP acceptance in Europe and then developing and promoting effective solutions. Factors to be considered are the range of IP cores available and how they are packaged, preferences for ASICs versus FPGAs, achieving a longer term "design reuse" perspective to project economics, and providing the best mix of pricing options, including upfront licensing fees, royalties, a subscription basis, or other innovative approaches.

"IP makes electronic design quicker, it makes companies more competitive, and it makes impressive economic sense in a tight design economy," said Chris Sheldon. "We believe that CAST's hallmarks -- a broad range of practical, cost-effective IP from a single supplier backed by really fantastic support -- can be as beneficial to European designers as they have proven elsewhere, and we're committed to getting this word out."

Chris Sheldon can be reached at +44 1628 48 48 80 or Email Contact.

About CAST, Inc.

CAST provides general purpose IP (gpIP), a broad range of popular and standards-based cores that includes processors, interfaces, and application-specific functions for multimedia and encryption. Designers use these cores so they can concentrate on the more unique, creative aspects of their system designs, or to quickly incorporate technology beyond their normal expertise. Privately owned and operating since 1993 with a focus on making IP practical and affordable, the company has established a reputation for high-quality products, simple licensing, and responsive technical support. CAST is located near New York City, and works with an international network of IP developers and distributors.


Contact:
     CAST, Inc.
     Hal Barbour, 201/391-8300
     
Email Contact
            or
     PDL Comm.
     Paul Lindemann, 603/490-4985
     
Email Contact



Source: Cast, Inc.



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