Aspec Technology Announces the Signing of a Definitive Agreement to Sell Its System IP Business.Business Editors/High-tech Writers SUNNYVALE, Calif.--(BUSINESS WIRE)--Feb. 24, 2000 Aspec Technology, Inc. (Nasdaq: ASPC ASPC Associated Students of Pomona College (Claremont, California) ASPC American Shetland Pony Club ASPC Arizona State Prison Complex ASPC Algorithmic Statistical Process Control ASPC Attached Shuttle Payload Center ), a provider of advanced software solutions which dramatically increase design productivity, today announced that it has signed a definitive agreement for the sale of its System Intellectual Property Business consisting of the Company's library business unit and design centers located in Sunnyvale, California Sunnyvale ([sʌniveil]) is a city in Santa Clara County, California, United States. It is one of the major cities that make up the Silicon Valley. As of the 2000 census, the city population was 131,760. and Longmont, Colorado The City of Longmont is a home rule municipality located in Boulder County and Weld County, Colorado, United States. Longmont is the 13th most populous city in the State of Colorado. The word "Longmont" comes from Longs Peak, a prominent mountain named for explorer Stephen H. . The agreement is subject to approval by the Board of Directors and will be closed in phases over the next 40 days. The purchase price is subject to adjustment at closing and the financial terms of the sale will be disclosed at that time. "The sale of the Company's System Intellectual Property Business marks an important step in the transformation of Aspec Technology into a provider of Internet-based, business-to-business, content management applications," said Mike Carroll Mike Carroll (born 1975) is a professional skateboarder from San Francisco who skated for H-Street and then formed the super team, Plan B Skateboards. In a mass defection, Mike started Girl Skateboards with fellow Plan B rider Rick Howard. Carroll is often sarcastic towards people. , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , of Aspec Technology. About Aspec Technology: Aspec Technology, Inc. (Nasdaq: ASPC) is a provider of advanced software solutions, which dramatically increase design productivity. Aspec's Inbox Software provides Internet-based, business-to-business, content management software solutions, which shorten time-to-market by managing product content and the business processes required to deliver and maintain content throughout the product lifecycle Product lifecycle or product life cycle is the course of a product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline. -- from concept to end-of-life. Aspec is located at 830 East Arques Avenue, Sunnyvale, CA 94086. More information is available at www.aspec.com. This news release contains forward-looking statements related to Aspec which are based on current expectations that includes statements regarding the Company's future expectations, beliefs, hopes, intentions, and strategies. These forward-looking statements may involve substantial risks and uncertainties. Actual results and developments therefore may differ materially from those described in this release. For more information about Aspec and risks arising when investing in Aspec, you are directed to Aspec's most recent reports on Form 10-Q Form 10-Q See 10-Q. and registration statement on Form S-1 as filed with the United States Securities and Exchange Commission. |
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