Arkle Res Regulatory News (ARK)

15 Jun 2007 07:00

ARC International (LSE:ARK) today announced that it has acquiredTenison Technology EDA, Limited, a privately held company that is aleading provider of software tools used to help develop system-on-chip(SoC) designs. Its customer list includes "Tier 1" companies such asBroadcom, Freescale, and Renesas. The acquisition includes fifteen keymembers of Tenison's engineering team, patents, and products such asthe VTOC(TM) software suite and IP eXchange technology. £ The acquired products will provide highly accurate models of ARC'sconfigurable processors and multimedia subsystems. Moreover, they willallow customers to simulate virtually all logic on any ARC-Based(TM)chip, including those using non-ARC technologies such ascustomer-developed intellectual property (IP) and IP from othersuppliers like ARM Holdings. £ Additionally, ARC International announced the establishment of anengineering center in Cambridge, England, and the appointment of Dr.David Greaves to ARC's Office of the CTO (Chief Technology Officer).The office's charter is to advance ARC's technology innovation andleadership in the areas of configurability, multicore SoC design, andsoftware development environments. Dr. Greaves is a faculty member andlecturer at the University of Cambridge Computer Laboratory, a founderof Virata, and the founder and chief scientist of Tenison; he is atechnology advisor to companies such as AT&T and BT (BritishTelecommunications). £ Founded in 1999 from work originating at Cambridge University,Tenison's advanced modeling, simulation, and verification productshelp chip designers accurately predict critical metrics of an SoCbefore the design is sent for manufacture. This speeds chipdevelopment, shortens time to market, and results in a more optimizedsolution. £ Carl Schlachte, president and CEO of ARC International, said,"SoCs for consumer applications are increasingly dominated by chipsincorporating multiple processors along with IP from multiple sources.To address the design challenges of customers using thesetechnologies, ARC now will provide its own 'Star IP' and softwaretools along with Tenison's technology to enable customers to createpower-efficient, high performance, and low cost SoCs. This willenhance ARC's ability to service customers using ARC subsystems andcores as part of an SoC design that includes other design components." £ The consideration will be GBP 1 million in cash. The acquisitionmay have a cost impact of up to GBP 350,000 on ARC's financial year2007 operations. For the year ended December 31, 2006 Tenison reporteda net loss of GBP 1.4 million. Its gross assets as of May 31, 2007were GBP 275,000. Under the terms of the UKLA listing rules thisacquisition is a Class 2 transaction and does not require shareholderapproval. £ About ARC International plc £ ARC International is the world leader in configurable mediasubsystems and CPU/DSP processors. Used by over 140 companiesworldwide, ARC's configurable solutions enable the creation of highlydifferentiated system-on-chips (SoCs) that ship in hundreds ofmillions of devices annually. ARC's patented subsystems and cores aresmaller, consume less power, and are less expensive to manufacturethan competing products. £ ARC International maintains a worldwide presence with corporateand research and development offices in California and St. Albans, UK.For more information visit www.ARC.com. ARC International is listed onthe London Stock Exchange as ARC International plc (LSE:ARK). £ ARC and the ARC logo are trademarks or registered trademarks ofARC International. All other brands or product names contained hereinare the property of their respective owners. This press release maycontain certain "forward-looking statements" that involve risks anduncertainties, including the development, implementation, and releaseof features described herein. These are at the sole discretion of ARCInternational. For other factors that could cause actual results todiffer, visit the company's Website as well as the listing particularsfiled with the United Kingdom Listing Authority and the Registrar ofCompanies in England and Wales. Copyright Business Wire 2007