Magma Named to the Red Herring 100; Recognized by Red Herring Editors for Innovation and Business Strategy.
CUPERTINO, Calif.--(BUSINESS WIRE)--May 13, 2002
Magma(R) Design Automation Inc. (Nasdaq:LAVA), a provider of chip design solutions, announced today its inclusion in the Red Herring 100 as selected by the editors of Red Herring, the premier magazine of business technology and innovation.
The Red Herring 100 recognizes the top 50 public and the top 50 private companies whose services, business models, products and quality of management define business innovation. It previews the leaders of tomorrow in a number of key technology-related sectors, including software, biotechnology, wireless, communications services, media, hardware, nanotechnology, consumer electronics and energy.
"It's very gratifying to be recognized this way by the editors of Red Herring magazine," said Rajeev Madhavan, chairman and CEO of Magma. "Our employees have worked very hard to achieve the successes of the past year -- record revenue growth and our initial public offering in November -- and it's very nice to have those efforts recognized."
In its sixth year, the Red Herring 100 has become the most respected list of its kind. Red Herring editors compile the list by using the same combination of subjective insights and hard metrics favored by venture capitalists and investment bankers. These factors predict a company's ability to disrupt existing markets or create entirely new ones.
The Red Herring 100 is featured in the June 2002 issue of Red Herring magazine and is also available on www.redherring.com. It includes a short profile of Magma.
About Magma Design Automation
Magma software products enable chip designers to reduce the time required to design and produce complex integrated circuits in the communications, computing, consumer electronics, networking and semiconductor industries. Magma provides a single executable for RTL-to-GDSII chip design. The company's products, Blast Fusion(TM), Blast Chip(TM), Blast Plan(TM), Blast Noise(TM) and Blast Prototype(TM) utilize Magma's proprietary FixedTiming(R) methodology and single data model architecture to reduce the timing-closure iterations often required between the logic and physical processes in conventional IC design flows. Magma's Diamond SI(TM) also leverages the single data model architecture to provide an integrated, standalone platform for post-layout, sign-off-quality signal integrity verification.
Magma maintains headquarters in Cupertino, Calif., as well as sales and support facilities in Silicon Valley, Los Angeles, Orange County and San Diego, Calif.; Boston, Mass.; Durham, N.C.; Laurys Station, Pa.; Austin and Dallas, Texas; Newcastle, Wash.; and in Germany, Israel, Japan, Korea, The Netherlands, Taiwan and the United Kingdom. The company's stock trades on Nasdaq under the ticker symbol LAVA. Visit Magma Design Automation on the Web at www.magma-da.com.
Magma and FixedTiming are registered trademarks and Blast Chip, Blast Fusion, Blast Noise, Blast Plan, Blast Prototype and Diamond SI are trademarks of Magma Design Automation. All other product and company names are trademarks and registered trademarks of their respective companies.
Except for the historical information contained herein, the matters set forth in this press release, including statements about the features and benefits of Magma's products, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, including, but not limited to, the ability of Magma's products to produce the desired results and Magma's ability to keep pace with rapidly changing technology. Further discussion of these and other potential risk factors may be found in Magma's Form 10-Q for the quarter ended Dec. 31, 2001 filed with the Securities and Exchange Commission ("SEC") on Feb. 14, 2002, and from time to time in Magma's SEC reports. These forward-looking statements speak only as of the date hereof. Magma disclaims any obligation to update these forward-looking statements.
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|Comment:||Magma Named to the Red Herring 100; Recognized by Red Herring Editors for Innovation and Business Strategy.|
|Date:||May 13, 2002|
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