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Synchronicity Provides Key Technology To Enable World's First SIP Exchange
EDINBURGH, Scotland----Oct. 23, 2000--Synchronicity
Inc. (Marlboro, Mass.) announced that its IP Gear(TM) software was
used in the development of the Virtual Component Exchange (VCX)
www.thevcx.com, which was officially launched today at the IP2000
Conference. VCX is the world's first Internet-based, regulated trading
exchange for Semiconductor Intellectual Property (SIP, often called
virtual components). Synchronicity supplies Internet-based solutions
to manage the development supply chain for complex electronic
products.
``The technology behind the VCX trading system enables efficient
and safe Web-based Virtual Component (VC) transactions in a global,
business-to-business marketplace,'' said Andy Travers, CEO of the VCX.
``Many of our members use Synchronicity software internally for design
management and reuse, so we consider the use of IP Gear in the VCX as
strategic for us to enable the world-wide development supply chain.''
``We have a strong track record of installing Internet-based
systems to speed the development of electronic products both within
and between enterprises,'' added Dennis Harmon, Synchronicity CEO. ``We
are excited to partner with VCX to construct this system that is going
to change how the semiconductor design industry does business.
Synchronicity and VCX will continue to work closely together to
provide the de-facto platform for VC transactions and management.''
The VCX was formed two years ago to ease the increasingly
challenging business and legal issues involved in SIP transactions
that can significantly slow the electronic product development
process. More than 40 leading companies including Toshiba, Motorola,
Sun Microsystems, Hitachi, ARM, inSilicon and ISS have participated in
the definition of a standard transaction procurement process,
toolsuite and service set. The VCX's goal is to expand global trade in
virtual components of SIP --the building blocks of systems-on-a-chip--
by providing a business, legal and exchange infrastructure on the Web.
The new site contains a variety of tools, processes and
information that both buyers and sellers of SIP can use to
dramatically reduce the time it typically takes to complete a
transaction. A suite of software technology that VCX calls
TransactionWare(TM), which leverages IP Gear and powers the exchange.
When configured it guides both buyers and sellers through an intuitive
and efficient procurement process beginning with component selection
and evaluation through negotiation and licensing agreements to final
purchase.
- The VCX Listing(TM) allows users to add, edit, search and
compare Virtual Components, as appropriate to their being a
buyer or seller.
- The VCX DAAControl(TM) system provides online visibility and
management of the VC data request, authorization and release
process. The downloadable DAA Configurator tool, used to draft
standard Data Access Agreements (DAAs), was developed with
much member input.
- The VCX ProcessBuilder allows Member Company Administrators
(MCAs) to establish an official buying or selling authority
for their company or for their specific business unit by
setting up users and tailoring their tool access to the
current IP sales or procurement process.
- The VCX DealRoom(TM) contains the latest VCX drafting tools
for business deal term sheets and license contracts.
- The Business Deal Broker tool helps users layout the terms
and conditions of a deal, aiding in the negotiation phase
of a proposed transaction.
- The Contract Configurator tool allows a licensing contract
to be quickly configured.
VCX choose to work with Synchronicity as its software had the
desired security, responsiveness and track record to implement such a
rich SIP transaction system.
About VCX
The VCX (Virtual Component Exchange; Livingston, Scotland) is
creating a safe, efficient, international marketplace for the buying
and selling of the semiconductor intellectual property essential to
the development of the system-chip industry. Its members will have
access to a safe, regulated market environment and powerful tools
designed to minimize the business and legal issues surrounding the
exchange of IP. Buying and incorporating VCs through the VCX will
ensure reduced time-to-market for new products, while offering
protection, support, and a sustainable business model for both IP
inventors and users. For more information on the VCX, please visit
www.thevcx.com.
About Synchronicity
Synchronicity supplies Internet-based enterprise &
business-to-business collaboration solutions to manage the supply
chain feeding the development of complex electronic products.
Synchronicity's enterprise applications, DesignSync®and
ProjectSync®, enhance design productivity by enabling effective data
management, parallel development techniques and proactive team
communication within the design team, across the enterprise and
between businesses. Synchronicity's IP Gear family of application
servers enables organizations to create centralized resource web sites
that enhance visibility, support complex decision processes, and
manage the relationships and communication between the members of the
development supply chain. Headquartered in Marlboro, MA, (508)
485-4122, Synchronicity has offices worldwide, please see
www.synchronicity.com.
The Synchronicity logo, DesignSync and ProjectSync are registered
trademarks and IP Gear is a trademark of Synchronicity, Inc. of
Marlboro, MA. All other trademarks are acknowledged.
Contact:
Synchronicity Inc
Trent Poltronetti, 408/817-9600, Ext. 232
trent@synchronicity.com
or
VitalCom PR
Karen Tyrrell, 650/637-8212, Ext. 204
karen@vitalcompr.com
or
Bley PR, UK
Annette Bley, +44 171 482 4800
annette@dial.pipex.com
or
Virtual Component Exchange
Stephen Sharp, +011 441 506 404 118
Stephen.sharp@vcx.org
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