CIMdata PLM Industry Summary Online Archive
12 April 2005
Financial News
EVE Closes Fiscal Year with Record Growth
Advanced verification specialist Emulation and Verification Engineering (EVE) closed its fiscal year Thursday, March 31, 2005 by doubling its customer base, reaching a total of 25 customers, and reporting a record growth of 380% over the previous year.
EVE's new customers include: ARM Ltd.; ATI Technologies Inc.; Conexant Systems Inc.; Flarion Technologies; Northrop Grumman Corporation; Renesas Technology Corp.; Rohm Electronics; Seagate Technology Inc.; STMicroelectronics; Texas Instruments Inc.; and Toshiba Corporation.
Earlier in the year, EVE closed a second round of funding totaling $7.2 million. It introduced a new product to its ZeBu verification platform family to address the embedded software validation market of large system-on-chip (SoC) designs in the tens of millions ASIC gates.
In 2004, EVE appointed Venk Shukla, a prominent electronic design automation (EDA) executive, to its Board of Directors. Last month, Al Lipinski was named vice president of North American sales and Dino Caporossi became vice president of corporate marketing.
In October 2004, it opened Nihon EVE Kabushiki Kaisha (K.K.), a wholly owned subsidiary based in Yokohama, Japan, led by Tsugumi Fujitani, a well-known EDA industry veteran. EVE signed distributors in China, India and Israel in 2004, and last week named Alternative Solutions (Alt-S) its distributor in Eastern Europe. Overall, it expanded the company by more than 50 employees.
Says Luc Burgun, EVE's chief executive officer and president: "The groundswell of market acceptance confirms that our ZeBu platform is the only verification solution on the market to address hardware/software integration and embedded software validation at more than five MHz on designs exceeding 10 millions ASIC gates."
"We're upbeat and anticipate a great year of growth and profitability by further augmenting our blue chip customer base," he concludes.
EVE pioneers a new approach to hardware-assisted verification that combines the best aspects of traditional emulation and rapid prototyping systems into a single, unified environment for both ASIC/SoC debugging and embedded software validation.
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