Cadence Design Systems Selects Mirantis to Expand Technology Development Centers in Russia

FOSTER CITY, Calif.--(BUSINESS WIRE)--Feb. 6, 2002--Mirantis, Inc., a leading manager of Technology Development Centers (TDCs) for scientists, engineers and programmers for major software, hardware and technology firms, announced that its client, Cadence Design Systems, Inc., is expanding its reliance on Mirantis' TDCs in Russia.

"Cadence Design Systems' partnership with Mirantis, Inc. is driven by the technological excellence that has become synonymous with our leadership in the electronic design automation software market," said Lavi Lev, executive vice president & general manager, IC Solutions, at Cadence Design Systems said. "Our expanding reliance on Mirantis' Technology Development Centers in Russia is an outgrowth of the high level of engineering, scientific and design expertise these Russian technologists have shown in meeting the world-class standards we demand for new product development, core technology expansion and overall best practices."

Russia is an important, but largely untapped source of highly-skilled algorithmic mathematicians, scientists and engineers that have deep skill sets; according to Stephen Lane, Research Director, IT Services, at Aberdeen Group and author of "Offshore Software Development: Localization, Globalization, and Best Practices in an Evolving Industry."

"A number of global technology enterprises have established development centers in Russia since the country began the transition to a market economy and it is a rapidly emerging center for offshore outsourcing," Lane explained. "These events reflect the country's large and highly-skilled scientific and technology workforce, relatively low wage scales, and growing entrepreneurial spirit. As with any global business activity, there are challenges associated with software development in Russia but they are manageable ones for companies that exercise appropriate due diligence."

"We are gratified that yet another prominent global technology player is expanding its use of Mirantis' leading-edge model of providing easy access to Russia's vast pool of technical and scientific expertise," said Mirantis, Inc. CEO Alex Freedland. "They can rest assured that we take care of all the cross-cultural and in-country concerns that make their offshore core technology operations run smoothly. Essentially, we help Cadence extend its core development offshore."

The Mirantis Technology Development Center "model" has evolved over the last several years as management conducted and evaluated proprietary research intended to project the next phase for outsourcing trends. Mirantis, a firm of increasing stature in Russia, was recently recognized as the "employer of choice" in Russia, which is a fast-growing market that has tremendous needs for products from technology companies like Cadence.

"Our technology development center is growing rapidly and we are extremely pleased with the skill sets, as well as the managerial expertise Mirantis brings to the operation," Cadence Design Systems' Executive Vice President & General Manager of IC Solutions Lev concluded.

About Mirantis, Inc.

Mirantis extends its clients' core R&D capabilities by providing "instant-on," state-of-the-art Technology Development Centers located offshore linked to the clients' existing development teams. As an award-winning employer of choice, Mirantis attracts and hires highly skilled research, design and engineering teams for each client based upon the exact skills profile and experience required. The Mirantis distinction is a model that goes far beyond simple staffing or project outsourcing. Mirantis extends core development organizations by supporting each client team with dozens of specialized services, freeing the client to own and manage the people and control the projects. Mirantis serves the software, hardware and science industries where employee knowledge is vital and employee retention is strategically important. Mirantis operates in locations where "hard to find" skills are prevalent; cost advantages are compelling and access to Western Europe and the U.S. is easy.

About Cadence Design Systems, Inc.

Cadence Design Systems, a $1.3 Billion firm with 5700 employees in 62 offices around the globe, is the world's largest provider of electronic design automation (EDA) products and services. Its end-to-end solutions help computer, communication, and consumer electronics companies create high-performance systems and integrated circuits in the shortest possible time.

Cadence Design Systems, Inc. was established in 1988 through the merger of two EDA pioneers -- ECAD, Inc. and SDA Systems. Through innovative product development, strategic partnerships, and highly successful business mergers, Cadence has become the industry's leading supplier of EDA software technology and services.

     Mirantis, Inc.
     Gary Fowler, 650/286-9250
     garyf@mirantis.com
     www.mirantis.com
      or
     Cadence Design Systems, Inc.
     Parvesh Bal-Sandhu
     parvesh@cadence.com
     www.cadence.com.