Magma Names Kevin Moynihan General Manager and Vice President of Design Implementation Business Unit

Former Cadence Veteran Brings Semiconductor, Design and Equipment Experience

SAN JOSE, Calif., Aug 12, 2008 (PrimeNewswire via COMTEX News Network) -- Magma(r) Design Automation Inc. (Nasdaq:LAVA), a provider of chip design software, today announced Kevin Moynihan has joined the company as general manager and vice president of the company's Design Implementation Business Unit. Moynihan will report to Roy E. Jewell, Magma president and chief operating officer.

 

"Kevin brings a blend of experience that will benefit Magma as our synthesis, place & route, and related products continue their market share gains," Jewell said. "He has a proven track record of integrating customer feedback as part of strategy definition, and then bringing new products to market. Kevin is a very good addition to Magma." Moynihan takes over for Kam Kittrell, who is on sabbatical and will return to the company at the end of 2008, reporting to Jewell in a different role.

Moynihan will manage the Design Implementation Business Unit jointly with Premal Buch, the group's general manager and vice president, Product Development. "Our implementation products have expanded a great deal in a short period, both the array of products and capabilities," Buch said. "Kevin's experience will contribute to continued deployment and market acceptance."

Moynihan's career includes experience as a member of the technical staff at Lockheed Missiles and Space Co. and at Advanced Micro Devices. His EDA experience began when he served as vice president of Technology Services at High-Level Design Systems, which was later acquired by Cadence Design Systems. In 9 years at Cadence his responsibilities included managing applications engineering; serving as vice president and general manager for Vertical Market Design Environments; serving as vice president of the Integration Ensemble and synthesis, placement & routing product lines; and serving as vice president of corporate business development. Moynihan gained other EDA experience at Mentor Graphics and with start-up companies Gradient Design Automation and Silicon Navigator. He also managed KLA-Tencor's DesignScan Business Unit.

Moynihan holds a master's degree in business administration from Pepperdine University and a bachelor's degree in computer and information science from Ohio State University.

About Magma

Magma's software for designing integrated circuits (ICs) is used to create complex, high-performance chips required in cellular telephones, electronic games, WiFi, MP3 players, DVD/digital video, networking, automotive electronics and other electronic applications. Magma's EDA software for IC implementation, analysis, physical verification, circuit simulation and characterization is recognized as embodying the best in semiconductor technology, enabling the world's top chip companies to "Design Ahead of the Curve"(tm) while reducing design time and costs. Magma is headquartered in San Jose, Calif., with offices around the world. Magma's stock trades on Nasdaq under the ticker symbol LAVA. Visit Magma Design Automation on the Web at www.magma-da.com.

Magma is a registered trademark and "Design Ahead of the Curve" is a trademark of Magma Design Automation. All other product and company names are trademarks and registered trademarks of their respective companies.

Forward-Looking Statements:

Except for the historical information contained herein, the matters set forth in this press release 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 Magma's ability to keep pace with rapidly changing technology and the company's products' abilities to produce desired results. Further discussion of these and other potential risk factors may be found in Magma's public filings with the Securities and Exchange Commission ( www.sec.gov). Magma undertakes no additional obligation to update these forward-looking statements.

 

SOURCE: Magma Design Automation

Magma Design Automation Inc.


Monica Marmie, Director, Marketing Communications
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