SAN JOSE, Calif. and BANGALORE, India, June 22, 2009 (GLOBE NEWSWIRE) -- Magma(r) Design Automation Inc. (Nasdaq:LAVA), a provider of chip design software, today announced the appointment of Vivek Raghavan as managing director of the company's India operations. Raghavan will report to Roy E. Jewell, Magma president and chief operating officer, as well as continue his current responsibility as vice president in Magma's Custom Design Business Unit, managing development of physical verification products.
"India is a key part of Magma's overall strategy, and we are looking to Vivek to continue working with our team there to expand the company's role in India's EDA fabric," said Rajeev Madhavan, Magma's chairman and chief executive officer. "He has been one of our senior managers in India and I expect he will work with our talented employees to continue the India operation's success." Nearly 30 percent of Magma's worldwide workforce operates in the company's Bangalore, Mumbai and Noida facilities.
"Recent developments in Magma products demonstrate great technology and strong competitiveness," Raghavan said. "I'm very pleased to continue working with the team in India that has helped make these advancements possible."
Raghavan joined Magma in 2004 when the company acquired Mojave Design, where he was CEO and a co-founder. Prior experience includes senior engineering management positions with Synopsys and Avant! Corporation, where he developed and managed successful products in areas of physical design and parasitic extraction of integrated circuits. He holds a B.Tech degree in electrical engineering from IIT Delhi and a Ph.D. in electrical and computer engineering from Carnegie Mellon University.
About Magma
Magma's electronic design automation (EDA) software is used to create complex, high-performance integrated circuits (ICs) for cellular telephones, electronic games, WiFi, MP3 players, DVD/digital video, networking, automotive electronics and other electronic applications. Magma products for IC implementation, analog/mixed-signal design, analysis, physical verification, circuit simulation and characterization are recognized as embodying the best in semiconductor technology, providing the world's top chip companies the "Fastest Path to Silicon(tm)." Magma maintains headquarters in San Jose, Calif., and offices throughout North America, Europe, Japan, Asia and India. 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 "Fastest Path to Silicon" 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.
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