Magma China to Play Significant Role in Development of Magma's Analog and Digital IC Implementation Software
BEIJING, Jun 22, 2008 -- Magma(r) Design Automation Inc. (Nasdaq:LAVA), a provider of chip design software, announced that Chief Executive Officer Rajeev Madhavan will preside over openings of the company's new offices in Beijing and Shanghai, the latest developments in Magma's efforts to build world-class operations in China. With today's opening ceremonies the company adds 18,000 square feet of office space in Beijing and Shanghai, an increase of nearly 140 percent. This expansion will allow Magma to continue to build its analog and digital IC design research and development (R&D) team and to provide local customers with enhanced support. The company has also launched a university program.
"Driven by computing and consumer electronics demand, the Chinese semiconductor market is projected to surpass $28 billion in 2011," said Rajeev Madhavan, CEO of Magma. "Doing business here requires an understanding of the dynamic characteristics of the Chinese market, the role of the government and the differences in business practices. By growing our operations here, providing leading-edge technology, leveraging the growing pool of talented EDA and IC engineers, increasing our local support and strengthening key relationships, Magma will demonstrate its commitment to facilitating this growth."
Magma established its first Beijing facility in 2003 and added offices in Shanghai and Shenzhen. Magma China continues to recruit the best engineering talent for its R&D team, which is expected to play an important role in the development of the company's digital design implementation and analog and custom design software. Sarah Xu, Ph.D. was appointed to the role of managing director of Magma China, is tasked with increasing internal operational efficiency, and will act as the primary liaison to universities and intellectual property and electronic design automation (EDA) partners.
Two-Pronged University Program to Grow Talent Pool and Foster Semiconductor Research
Magma also announced today a two-pronged strategy for working with local universities to grow engineering talent pool and foster research. One aspect of the strategy is providing professors with course material, software and dedicated support for training students to use the Magma software. Additionally, Magma will contribute to China's leading design automation research labs.
"To continue developing its semiconductor ecosystem, China is putting strong emphasis on engineering education and software development," Xu said. "We are pleased to support these efforts by working with local universities to train engineers on Magma's advanced EDA software and contribute to important research."
"The Graduate University of the Chinese Academy of Sciences is very excited to be launching its first VLSI CAD course this fall. Magma has provided our professors with course material and has trained them to use Magma's software," said Ying Wang, executive dean of the Graduate University of the Chinese Academy of Sciences. "This close collaboration with Magma will enable us to teach our students how to design advanced ICs using cutting edge software, skills that will be important to furthering their career."
"We've worked closely with Magma in a number of areas including an internship program and joint research program," said Yici Cai, professor at Tsinghua University Computer Science Department. "With this successful collaboration as a foundation, we look forward to extending our relationship through the formal university program."
"Magma is an extremely valuable partner," said Xuan Zeng, vice dean of the School of Microelectronics at Fudan University. "Many of our graduate students have joined Magma's Shanghai R&D team. Recently the company also agreed to fund Fudan University's EDA research program and I am confident that this will yield important advances in electronic design automation."
For more information about Magma China's university program, call the Magma office in Beijing at 86-10-8260-7060.
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 or www.magma-da.com.cn.
Except for the historical information contained herein, the matters set forth in this press release, including statements that Magma will contribute to the growth of China, offer software, training and funding to Chinese universities and about the features and benefits of Magma's software 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 the ability of Magma's products to produce the desired results, the company's decision to continue offering a university program and the company's ability to keep pace with rapidly changing technology. 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). The company undertakes no additional obligation to update these forward-looking statements.
SOURCE: Magma Design Automation
Magma Design Automation Inc.
Monica Marmie, Director, Marketing Communications
Kelly Wang, Corporate Marketing Manager, China
(+86) 10 82682280, ext. 8088