PORTLAND, Ore. - May 4, 2005 -- Ambric, Inc.
, a fabless semiconductor company, announced that Howard Bubb has been named CEO and chairman of the company's board. Bubb is a former vice president of Intel Corporation and general manager of Intel's Communication Infrastructure Group. Bubb joined Intel from Dialogic Corporation where he was president and CEO. Ambric is developing a new type of programmable integrated circuit (IC) platform that will help electronics companies accelerate time to market for their products while slashing system development costs. In September 2004, Ambric announced a $10.4 million Series A funding round, co-led by ComVentures and OVP Venture Partners.
"I am thrilled that Ambric has attracted a leader of Howard's caliber," said Jay Eisenlohr, Ambric co-founder and executive vice president of marketing and business development. "We looked long and hard for the best match for Ambric's future. Howard has the right experience and approach to help realize Ambric's potential for exponential growth, and he is an excellent cultural match. He will be a superb leader for the team as we march toward our multi-billion dollar revenue goal." "We are very excited to have Howard join the team and build the company into a great success," said Roland Van der Meer, a ComVentures partner and Ambric board member. "The company has been hitting every milestone successfully, including first silicon, and we expect that under Howard's leadership, the company will accelerate its position."
"There just aren't very many early stage start-ups that have such a clearly unique and sustainable technology advantage with this level of upside," said Bubb. "There's nothing quite as exciting as a start-up that's hitting on all cylinders. Ambric's technology will provide a significant advantage to applications that benefit from very high performance, density, and programmability. The technology is revolutionary, not evolutionary, and that's something that comes along only once every few decades. Jay, Mark Jones, the CTO and co-founder, and the rest of the Ambric team, have done an extraordinary job. It's exciting to join Ambric and work with the whole team to take the company to the next level."
About Howard Bubb
Bubb comes to Ambric from Intel Corporation, where he was an Intel vice president and general manager of Intel's Communications Infrastructure Group, responsible for profitably growing Intel's business in network processors, embedded microprocessors, modular communications platforms, and optical communications devices. Previously he was president and CEO of Dialogic, a leading manufacturer of high-performance, standards-based computer telephony (CT) hardware and software. Bubb joined Intel in June 1999 after Dialogic was acquired by Intel for $780 million. Bubb joined Dialogic from Lexar's Telenova subsidiary, where he was senior vice president and general manager. Bubb has also held top management positions at United Technologies, Memorex, and Telex corporations. He holds a bachelor's degree in Electrical Engineering from California Institute of Technology, Pasadena, Calif.
About Ambric, Inc.
Ambric, Inc. is a privately held fabless semiconductor company developing a new type of programmable IC platform that will help electronics companies accelerate time to market for their products while also slashing system development costs. Founded in 2003, Ambric is still in quiet mode about its technology and products. Investors include ComVentures and OVP Venture Partners-which co-led the $10.4 million Series A round-and Northwest Technology Ventures. Ambric is headquartered in Beaverton, Ore. For more information, visit www.ambric.com.