CoFluent Design Closes $2.6 Million in Its First Round of Funding.Funds Will Be Used to Expand Marketing and Sales, Boost Research and Development, and Deliver Advanced Architecture Exploration and Performance Analysis Solutions to Customers Worldwide PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- CoFluent Design, an Electronic System Level (ESL (1) An earlier family of client/server development tools for Windows and OS/2 from Ardent Software (formerly VMARK). It was originally developed by Easel Corporation, which was acquired by VMARK. ) company focused on delivering state-of-the-art software solutions for architecture exploration and performance analysis, today announced that it has raised $2.6 million USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. in Series A funding to expand its marketing and sales worldwide, as well as boost its research and development. Led by Emertec Gestion, a French Venture Capitalist Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. specializing in microelectronics, the investors in this A round also included BNP Paribas Private Equity (BNPP BNPP BNP Paribas (French bank) BNPP Bank-Netherlands Partnership Program BNPP Bushehr Nuclear Power Plant (Bushehr, Iran) BNPP Below Ground Net Primary Productivity PE), the Private Equity arm of BNP Paribas; and UFG UFG Universidade Federal de Goiás UFG United Financial Group UFG Up for Grabs UFG United Freight Global UFG United Food Group Inc (Elgin, IL) UFG Unravel Flow-Graph Private Equity, Private Equity asset management company of the French consortium Groupe UFG. Initially funded in 2003 by Stephane Leclercq, entrepreneur and electronics professional; Vincent Perrier, embedded systems expert; and Jean-Paul Calvez, Professor at the University of Nantes The University of Nantes is a well-known French university, located in the city of Nantes. Currently, it is attended by approximately 32,000 students, of which the vast majority are French. It is the second largest university in France. , France, and creator of the technology; CoFluent Design develops and markets CoFluent Studio[TM], an ESL modeling and simulation toolset. The company's breakthrough technology helps electronic device and chip manufacturers bridge the gap between the specification of a system and its implementation. "We were impressed by CoFluent's ability to win world-class reference customers in their early years with a unique product offering that fills the gap in existing design flows while easily integrating into current processes and practices," said Jean-Philippe Gendre, investment director of Emertec Gestion. "Given that CoFluent's solutions are fully-aligned with today's corporate design flows, we feel confident that the company will be able to drive growth worldwide by leveraging these initial design wins." "By providing executable specifications, CoFluent allows large corporations to facilitate highly effective communications between development teams scattered across the company and around the globe, providing system, hardware and software engineers a common vector to share their views," stated Guillaume Lebrun, investment director of BNPP PE. "We are excited about the prospects of our investment in CoFluent and the promising ESL market." "CoFluent enables manufacturers to reduce the time-to-market of their innovative products," stated Olivier Denigot, investment director of UFG PE. "We are confident that the company will continue to replicate its successes and quickly proliferate its ESL solutions worldwide." "This strong show of investor confidence is a major milestone in CoFluent's history," said Stephane Leclercq, 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 CoFluent Design. "Partnering with such major players in the high-tech venture capital arena is a direct reflection of the achievements and potential of CoFluent Design and its patented technology. Our investors' experiences will be of tremendous help in our plan to become a leading provider of ESL solutions." CoFluent Studio is the culmination of 20 years of research by Professor Calvez on an electronic system co-design methodology. Current version 2.0 of CoFluent Studio delivers support for SystemC, and represents more than 40 person-years of R&D. Despite CoFluent's short history, the software and methodology delivers the highest industry standard for stability and reliability. Prior to the funding, CoFluent Design secured seed money from European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community funds for supporting its R&D program, and successfully signed corporate-level software licensing agreements with a world-leading mobile terminal manufacturer and world-leading semiconductor platform provider for mobile terminals. About CoFluent Design: CoFluent Design provides integrated solutions to bridge the gap between the specification of an electronic system and its implementation. Its CoFluent Studio[TM] ESL modeling and simulation software environment allows developers of electronic devices and chips to: * DECIDE: Securely predict behavior and performance from partial software and hardware for design validation at all stages * SHARE: Provide system executable specifications rather than static documents for common hardware / software reference * CAPITALIZE: Capture projects' system design expertise in enterprise model libraries for easier and faster innovation For further details please visit: http://www.cofluentdesign.com or send email to info@cofluentdesign.com. About Emertec Gestion: Emertec Gestion S.A. completed 28 investments since its creation in 1999. Emertec Gestion is one of the few VC companies in Europe to concentrate on innovative companies spun off from scientific research results. It manages 3 funds for a total of about [euro]60 million. Emertec 2, its [euro]22.5 million fund, is dedicated to early-stage investments in the semiconductor (hardware), EDA (1) (Electronic Design Automation) Using the computer to design, lay out, verify and simulate the performance of electronic circuits on a chip or printed circuit board. and embedded software fields. http://www.emertec.fr. About BNP Paribas PE: BNP Paribas Private Equity was created in 1998, named after the former Banexi, the then BNP BNP B-type natriuretic peptide, brain natriuretic peptide Physiology A 32-residue peptide hormone produced predominantly in the ventricles, secreted in response to fluid overload–eg, CHF. See Atrial natriuretic peptide. Merchant Bank, active in M&A and Private Equity. His teams are dedicated to third-party unlisted asset management under the form of direct funds and a fund of funds Fund of Funds A mutual fund that invests in other mutual funds. Notes: For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. . BNP Paribas Private Equity accumulates over 20 years track record in private equity activities (early stage, expansion, buyout, mezzanine debt, replacement capital O). Since 1998, BNP Paribas Private Equity has launched 20 funds (funds directly managed and funds managed by its affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. ) representing [euro]2.6 billion assets committed and [euro]1.6 billion invested. http://www.bnpparibas.com. About UFG PE: UFG Private Equity (formerly Nord Europe Private Equity) is an Asset Management Company specialized in Venture Capital. With a team of 10 professionals, UFG PE completed 24 investments and manages [euro]150 million in 4 different funds: Nord Europe I (French FCPR FCPR Fonds Communs de Placement à Risques (French: Venture Capital Fund) FCPR Florida Center for Prevention Research (Florida State University) ), Diademe Innovation I and Diademe Innovation II (French FCPI FCPI Flux Changes Per Inch FCPI Fibre Channel Over IP ), and Diademe Global Section (fund of funds) in partnership with British bank Schroders. In its direct investment activity, UFG PE brings working capital to private companies at all stages of their development, their management or share holders as: venture capital, development capital, LBO LBO See: Leveraged buyout LBO See leveraged buyout (LBO). or turnaround. Headed by Patrick Lissague UFG Private Equity is a member company of the UFG Group, a multi-specialist, multi-target asset management group. UFG Group is the result of the merger of UFG, Alteram, Multifonds and NEPE NEPE Nez Perce National Historic Park (US National Park Service) NEPE Nitrate Ester Plasticized Polyether and is a subsidiary of Credit Mutuel Nord Europe. UFG Group has four core competences: funds of hedge funds, private equity, thematic funds and real estate. UFG Group is thus able to provide its target clients (institutional and private investors, professional financial advisors) with investment solutions, including traditional asset classes and "alternative" investments. UFG Group currently manages assets representing more than 17 billion euros. http://www.ufg-pe.com. All trademarks or registered trademarks mentioned in this news release are the intellectual property of their respective owners. |
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