EDA Veteran Invests in the Swedish Start-up Company Verifyter AB

Set for growth with an expanded leadership team

LUND, Sweden — (BUSINESS WIRE) — February 29, 2012 — Verifyter AB, provider of software and solutions for automatic regression testing and failure diagnosis, today announced the signing of an agreement with Lars-Eric Lundgren, founder of HARDI Electronics AB and former GM of Synplicity Hardware Platforms Group, to invest in the company and to serve as the chairman of the board.

Verifyter develops the debug automation and analysis software PinDown, which is used to dramatically accelerate bug diagnosis and root cause analysis in regression test suites. Using PinDown can significantly improve testing and validation of complex hardware and software design projects, thus saving time and money while at the same time improving quality and time-to-market.

“Verifyter is a very interesting company with very exciting products in the verification analysis domain,” stated Lars-Eric Lundgren, chairman of the board at Verifyter. “It suits my experience very well since I have spent the last 10 years with the HAPS/HARDI-products for ASIC-verification, making HAPS one of the leading FPGA-based prototyping solutions. HAPS today is a part of Synopsys, a leading EDA-company. As chairman, advisor and investor in Verifyter, I will leverage this experience to make the international launch of the Verifyter products a success. I see a great potential in PinDown since it not only can be used by ASIC-designers but also by software developers to speed-up regression testing and improve product quality.”

One of the first Verifyter customers, Synopsys, Inc., is already using PinDown successfully on several projects. Verifyter is now set, with the support and advice from Lars-Eric Lundgren to expand rapidly and add more customers worldwide.

“We will use the recent investment to expand the development team, but above all, we will establish a sales and support organization in US”, said the CEO of Verifyter, Daniel Hansson. “There is a growing need for efficient bug diagnosis in automatic testing and we know from customers’ successful experience that PinDown delivers as promised."

About PinDown

PinDown 2.0 has been available since May 2011. It decreases diagnosis costs in automatic testing by up to 90%. PinDown’s open architecture allows it to be integrated and used with virtually all regression test tools on the market.

About Verifyter

Verifyter was founded early 2010 with the mission to speed up the development process by automating the diagnosis of software and hardware failures. Until now, diagnosis has been performed manually, preventing engineers to focus on more important tasks.

About Lars-Eric Lundgren

Mr. Lundgren has been in the EDA-business for more than 20 years and was founder and CEO of HARDI Electronics AB in Sweden. HARDI invented a modular, LEGO-like system for ASIC-prototyping called HAPS. HARDI was acquired by Synplicity in 2007. HAPS is now part of Synopsys through the acquisition of Synplicity by Synopsys in 2008.

For more information on Verifyter and PinDown, please visit www.verifyter.com.

For more information about the investment, contact Lars-Eric Lundgren at Email Contact, +46-46 288 0048.



Contact:

Verifyter AB
Daniel Hansson, +46-736 517 576
Email Contact




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