The Bangalore facility is one of three the company now has in India. Magma opened a facility in Noida in 2006 and began operations in Mumbai as part of Magma's November 2006 acquisition of Knights Technology. Magma already has over 200 employees in India and these facilities will enable the company to expand significantly in this region to take advantage of the availability of world-class engineering talent and provide additional support to its growing customer base in India.
"A globally distributed product development and support network gives Magma access to talent anywhere in the world to ensure our customers' success," said Anand Anandkumar, managing director of Magma Design Automation Pvt. Ltd. "India's growing semiconductor market, depth of technology talent and excellent university and government-sponsored engineering training programs make it an ideal location for Magma to expand."
"Magma is focused on building on the success we have had in IC implementation to expand our product portfolio to address applications such as circuit simulation and physical verification," said Magma chairman and CEO Rajeev Madhavan. "We are making significant investments in R&D, product engineering and applications engineering and presently have more than 800 employees worldwide. With the new facilities in India and San Jose, we can continue hiring talented engineers to develop products that fully address the RTL-to-silicon design flow and allow our users to reduce the turnaround time and costs of nanometer semiconductor design."
Magma's software for integrated circuit (IC) design is recognized as embodying the best in semiconductor technology. The world's top chip companies use Magma's EDA software to design and verify complex, high-performance ICs for communications, computing, consumer electronics and networking applications, while at the same time reducing design time and costs. Magma provides software for IC implementation, analysis, physical verification, characterization and programmable logic design, and the company's integrated RTL-to-GDSII design flow offers "The Fastest Path from RTL to Silicon"(TM). Magma is headquartered in Santa Clara, 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 "The Fastest Path from RTL to Silicon" is a trademark of Magma Design Automation Inc. All other product and company names are trademarks and registered trademarks of their respective companies.
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.
Magma Design Automation Inc.
Monica Marmie, 408-565-7689