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ACEO Technology Inc. Raises $2 Million in Venture Funding, Fills Senior Position with Former Synopsys Executive.

FREMONT, Calif.--(BUSINESS WIRE)--Feb. 10, 1997--ACEO Technology Inc. announced today that it has received $2 million in first round venture capital financing, recruited EDA industry veteran Alan Feinberg as vice president of sales and marketing, and moved to new, larger offices in Fremont's Bayside Technology Park.

"For the past three years, ACEO has focused on delivering solid technology solutions to our customers on both PCs and workstations," said Dr. Ray Wei, ACEO president and CEO.

"We have concentrated our business development efforts in Asia, and have built a loyal customer base there. Now we're well-funded and staffed to expand in the U.S. and beyond, and to re-position the company for our next growth phase.

"We're delighted that Alan has joined our executive team, and are confident that the $2 million in venture financing will provide the necessary capital to fuel our anticipated growth."

As VP of sales and marketing, Alan Feinberg will be responsible for the company's complete line of VHDL and Verilog logic synthesis, ASIC/FPGA netlist migration, multi-FPGA partitioning, and rapid ASIC prototyping software products. Prior to joining ACEO, Feinberg was vice president of worldwide sales at MetaSoftware.

Before that, he was with Synopsys for eight years in senior sales management positions, having established and managed Synopsys' first field sales office in 1988. His most recent position at Synopsys was director of the Optimal Solutions Group, an entrepreneurial venture created to increase sales of Synopsys' emerging growth products. Feinberg holds both a BSEE and an MBA degree.

ACEO's $2 million first round financing, which will be used for facilities expansion as well as recruiting of additional engineering, technical support, sales and marketing staff, is from InveStar Capital Partners (Santa Clara, Calif., and Taipei, Taiwan), a new venture capital management firm focusing on cutting-edge technology investments.

Since its inception in January 1996, InveStar has successfully organized two separate venture capital funds with $50 million under current investment.

The new corporate headquarters provides customer training and conference facilities, and is expected to meet additional office space requirements as the company grows.

About ACEO

ACEO was founded in 1992 by Dr. Ruey-sing (Ray) Wei and Dr. Ihao Chen, former technical executives of Cadence Design Systems. Dr. Wei started Cadence's logic synthesis development efforts and with Cadence was granted a U.S. patent on certain logic synthesis technology. ACEO's products include Asyn(TM), complete logic synthesis for Verilog and VHDL; Gatran(R), for ASIC/FPGA netlist migration; and Softwire(R), for multi-FPGA partitioning and rapid ASIC prototyping. All tools are in production use today, and are available on either UNIX workstations or Windows PCs.

With direct sales offices in the United States and Taiwan, and distributors throughout Asia, ACEO Technology is headquartered at 46750 Lakeview Blvd. in Fremont, Calif., 94538. Telephone: 510/668-1700, fax: 510/668-0700, email: , web: .

CONTACT: ACEO Technology, Fremont

Alan Feinberg, 510/668-1700, Ext. 112


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Publication:Business Wire
Date:Feb 10, 1997
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