Verplex is Number One in Formal Verification Market
Owns Majority Market Share, Based on EDAC MSS Report
MILPITAS, Calif., June 3, 2002 -- Electronic Design Automation (EDA) Software Supplier Verplex™ Systems Inc. today announced that its formal verification software is the number one solution for verifying the correctness of complex integrated circuit (IC), system-on-chip (SOC) and system designs.
The EDA Consortium Market Statistics Service (MSS) reported that the formal verification market reached $49.9 million in revenue in 2001. Based on the MSS reported market size and Verplex revenue performance, Verplex has achieved majority market share with more than 50 percent market share. The EDAC report is based on information supplied by Verplex and other EDA suppliers of formal verification software.
Pamela Parrish, executive director of the EDA Consortium, notes: “Formal verification is experiencing rapid growth. The MSS reports that this segment grew 51 percent between 2000 and 2001.”
Garo Toomajanian, vice president, research analyst, of RBC Capital Markets, adds: “Verplex is a company well worth watching. It has an easy-to-use and high-performance technical product, a referenceable customer base and strong leadership.”
“Starting with three people in a tiny office and facing a crowd of competition, few would have predicted our phenomenal growth,” remarks C. Michael Chang, president and chief executive officer of Verplex. “Our success was largely accomplished by working closely with customers to build the solutions they need. When we began, formal verification was still somewhat young. We have proven to the EDA industry you can build formal verification tools that are reliable and mature, and that these tools are strategically essential for system-on-chip design.”
About Verplex
Verplex Systems Inc. is an electronic design automation (EDA) company focused on delivering the highest-speed, highest-capacity and easiest-to-use formal verification products for complex system-on-chip (SOC) design. Founded in 1997, it is privately held and funded by leading venture capital firms. Corporate headquarters is located at 300 Montague Expressway, Suite 100, Milpitas, Calif. 95035. Telephone: (408) 586-0300. Facsimile: (408) 586-0230. Email: info@verplex.com. Online information is found at its web site: http://www.verplex.com.
For more information, contact:
Dino Caporossi
Vice President of Corporate Marketing
(301) 724-0047
dino@verplex.com
Eldon Bullington
Chief Financial Officer at Verplex
(408) 586-0300
eldonb@verplex.com
Verplex, Conformal and Transformal are trademarks of Verplex Systems Inc. All other companies and products referenced herein are trademarks or registered trademarks of their respective holders.
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