Dublin, Ireland - January 27, 2009 - Duolog Technologies, the NovaUCD-headquartered Collaborative Design Automation™ company, today announced that it has acquired, in a combined cash and equity deal, the technology and products of Beach Solutions Ltd. as part of its global expansion strategy.
Beach Solutions is a privately held, UK-based, Electronic Design Automation (EDA) company established in 1998 which offers register management solutions for System-on-Chip (SoC) design. Having raised over £6 million in venture capital funding Beach researched and developed innovative products that are used by major semiconductor companies in Europe, US and Asia.
Duolog Technologies develops software tools that enable chip design companies to design their products faster, at lower cost and with fewer bugs. As part of its international expansion plans Duolog opened a sales, marketing and support office in Los Gatos, California last year. With this new acquisition Duolog has established a significant presence in the key Asian market. During the coming year Duolog intends to accelerate sales and to grow its revenues to $15 million.
Speaking about the acquisition, Ray Bulger, co-founder and CEO of Duolog Technologies said, “This is an important and extremely beneficial acquisition for Duolog. We have added valuable functionality to our products, further strengthened our client portfolio and attained an instant presence in the Japanese market, a major global market for EDA software and complex IC design, where Beach already had a strong presence.” He added, “We are fully committed to supporting existing Beach customers and have taken on key members of the Beach team to achieve this.”
Ray Bulger concluded, “The market for EDA tools for chip integration is maturing. As the market embraces IP-centric flows, more and more semiconductor companies are recognising the savings and productivity gains to be made by replacing overstretched, internal CAD solutions with standards-based, scalable, off-the-shelf products. As the market matures, there will inevitably be consolidation and Duolog, with our award-winning products, is in an excellent position to drive this consolidation.”
Duolog Technologies currently employs more than 80 people and is headquartered at NovaUCD, the Innovation and Technology Transfer Centre at University College Dublin. Duolog also has design centres in Galway and Budapest, Hungary, as well as US and international operations.
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