Verisity Grows Lead in the Functional Verification Automation Market to More Than 2X
MOUNTAIN VIEW, Calif.—(BUSINESS WIRE)—March 9, 2004—
Verisity Ltd. (Nasdaq:VRST), the leading supplier of
Verification Process Automation (VPA) solutions, once again has been
named the revenue leader in the Electronic System Level (ESL) Test and
Verification market in 2002, according to the most recent study
conducted by Gartner Dataquest. With 55% market share -- more than
twice that of its nearest competitor -- Verisity is the top ranked
company in the hottest growth area. Gartner Dataquest forecasts that
the ESL test and verification market will reach $270 million by 2007.
Today's news confirms the industry's need for solutions that combine
process automation with performance that scale from the unit, to the
chip/system and project levels to solve the complexities of
verification of nanometer SoCs.
According to the latest Gartner Dataquest EDA Market Trends
report, "EDA 2003: Past the Inflection Point," February 5, 2004, the
continued expansion of the ESL market for 2002 was driven by the rapid
growth of the ESL test and verification segment, "Verification is
driving the move to the ESL methodology. ESL test and verification is
a hot area, and we expect to see significant growth."
Market Embraces Verification Process Automation
Functional verification is the number one bottleneck in the
nanometer IC development cycle, consuming as much as 70 percent of the
entire design cycle. Incomplete verification is the source for 61(1)
percent of all respins, which typically cost millions of dollars and
several months of lost engineering manpower at 90-nanometer
geometries. Verisity's VPA solutions combine processes with automation
to simplify verification and increase engineers' productivity, design
quality and predictability towards closure.
"The numbers speak for themselves, the market has chosen Verisity
because our comprehensive VPA solutions virtually remove the largest
risks to project success," said Moshe Gavrielov, Chief Executive
Officer for Verisity. "Verisity's VPA solutions scale to meet the
needs of block, chip and full system-level verification and provide
the tools required to manage all interdependent activities to
closure."
About Verisity
Verisity Ltd. (Nasdaq:VRST) is the leading supplier of process
automation solutions for the functional verification market. The
Company addresses customers' critical business issues with its
market-leading software and intellectual property (IP) that
effectively and efficiently verify the design of electronic systems
and complex integrated circuits for the communications, computing and
consumer electronics global markets. Verisity's VPA solutions enable
projects to move from executable verification plans to unit,
chip/system and project level 'total coverage' and verification
closure, while maximizing productivity, product quality and
predictability of schedules. The Company's strong market presence is
driven by its proven technology, methodology and solid strategic
partnerships and programs. Verisity's customer list includes leading
companies in all strategic technology sectors. Verisity is a global
organization with offices throughout Asia, Europe, and North America.
Verisity's principal executive offices are located in Mountain View,
California, with its principal research and development offices
located in Rosh Ha'ain, Israel. For more information, visit
www.verisity.com.
Verisity, the Verisity logo and XoC are either registered
trademarks or trademarks of Verisity Design, Inc. in the United States
and/or other jurisdictions. All other trademarks are the property of
their respective holders.
(1) Collett International Inc.
Contact:
Verisity Design, Inc.
Jennifer Bilsey, 650-934-6823
jen@verisity.com
