Update: Intellectual Ventures has acquired Transmeta Patent Portfolio on Jan. 28, 2009
25-Year Semiconductor Industry Veteran Assumes Leadership
Santa Clara, CA - March 31, 2005 - Transmeta Corporation (NASDAQ: TMTA), the leader in efficient computing technologies, today announced that Arthur L. Swift has been promoted to President and Chief Executive Officer, effective immediately. Mr. Swift will also join the Company's Board of Directors effective March 31, 2005.
"Art's experience and his many accomplishments since joining Transmeta give us confidence that he is the best person to lead Transmeta's growth both by leveraging Transmeta's outstanding design and development capabilities and by continuing to build Transmeta's licensing and service business," said Murray Goldman, Chairman of Transmeta.
"I'm delighted to have this opportunity and I look forward to tapping the full potential of Transmeta's talented employees and the technologies and intellectual property that they have developed," said Mr. Swift, Transmeta's President and CEO.
Mr. Swift has been with Transmeta since March 2003 as Senior Vice President of Marketing, and has been instrumental in the creation and development of the Company's licensing and service business, which grew from $1.1 million in 2003 to $10.7 million in 2004. He has been instrumental in the licensing of Transmeta's advanced LongRun2™ technologies to NEC Electronics, Fujitsu Limited and Sony.
Mr. Swift has 25 years experience with leading companies in the semiconductor industry. Among his most significant experiences, Mr. Swift served as vice president and general manager at Cirrus Logic, where he managed, in succession, Cirrus' PC Products Division, Optical Storage Division and Magnetic Storage Division. He has also served as vice president of marketing for Sun Microsystems, where he had marketing responsibility for Sun's semiconductor division and Sparc microprocessors. In addition, he served as vice president of marketing and sales for Digital Equipment Corporation, where he had responsibility for Digital's semiconductor business unit including Alpha microprocessors.
About Transmeta Corporation
Transmeta Corporation develops and licenses innovative computing, microprocessor and semiconductor technologies and related intellectual property. Founded in 1995, Transmeta first became known for designing, developing and selling its highly efficient x86-compatible software-based microprocessors, which deliver a balance of low power consumption, high performance, low cost and small size suited for diverse computing platforms. We also develop advanced power management technologies for controlling leakage and increasing power efficiency in semiconductor and computing devices.
To learn more about Transmeta, visit www.transmeta.com.
Safe Harbor Statement
This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date of this release, and we will not necessarily provide updates of our projections or other forward-looking statements. Investors are cautioned that such forward-looking statements are subject to many risks and uncertainties, and may differ materially or adversely from our actual results or future events. Important risk factors that could have material or adverse effects on our results include general economic and political conditions, specific conditions and volatility in the markets that we address, difficulties or delays in implementing our restructuring plan, the potential loss of key technical and business personnel resulting from our restructuring plan, practical challenges in modifying our business model, the adoption and market acceptance of our products and technologies by current and potential customers and licensees, our inability to predict or ensure that third parties will license our technologies or use our technologies to generate royalties, the rescheduling or cancellation of significant customer orders, difficulties in developing or manufacturing products in a timely and cost effective manner, our dependence on third parties for sourcing materials and providing manufacturing services, intense competition and competitive pressures, the ability to enter strategic collaborations or raise financing on satisfactory terms, reaching agreement upon a definitive agreement after signing a non-binding letter of intent, patents and other intellectual property rights, and other risk factors. We urge investors to review our filings with the Securities and Exchange Commission, including our most recent report on Form 10-K, which describes these and other important risk factors that could have an adverse effect on our results. We undertake no obligation to revise or update publicly any forward-looking statement for any reason.
Transmeta, Efficeon, LongRun2 and Crusoe are trademarks of Transmeta Corporation. All other product or service names mentioned herein are the trademarks of their respective owners.