Faraday Assures Uninterrupted Long Term Foundry Supply While Innovasic Contributes Critical Quality and Reliability Expertise for Industrial Automation MarketHSINCHU, Taiwan and SUNNYVALE, California, – June 20, 2005
-- Faraday Technology Corporation (TAIEX: 3035), a leading ASIC and IP provider, and Innovasic Semiconductor, a leading supplier of ICs to the industrial automation market, today announced they have entered into a multi-year strategic partnership agreement. The agreement assures Innovasic and its customers of 10+ years of preferential supply in its upcoming products. In exchange, Faraday receives expertise and technologies which are necessary for mission-critical applications in harsh environmental conditions. The exchange is designed to enable both companies to expand their addressable markets.
Indeed, with the adoption of Ethernet and embedded processors, the industrial market seems destined to converge with the PC-peripheral market. However, issues such as soft error rate under high radiation environment, and extremely low defective parts per million (PPM) to name just two, are requirements quite different from Faraday's existing target markets. Through this partnership, Faraday intends to raise its quality and reliability to new heights for all customers, not just those in industrial automation.
"I'm delighted to announce Faraday's long-term strategic partnership with Innovasic to help implement and test products for markets requiring the utmost in performance and reliability," said H.P. Lin, President of Faraday Technology. "Faraday has built its reputation in consumer and PC peripheral markets. Now we are ready to expand our business to tackle the most stringent applications in the industrial world."
Innovasic has long built its reputation in the compatible replacement IC market, with unique technologies to match obsolete products, often with much higher quality and reliability. However, as Innovasic's market expands into high volume and brand new applications, the customers often require 10+ years of continued supply. Faraday, through its own strategic foundry relationship with UMC, has agreed to provide such assurance to enable Innovasic and its customers un-interrupted supply. In addition, Innovasic will have preferential access to Faraday's infrastructure and resources to create the world-class products necessary to compete against other suppliers in the market.
"Faraday is a unique ASIC vendor with a longstanding track record of empowering fabless companies in cost sensitive consumer and peripheral markets," said Keith Prettyjohns, CEO of Innovasic. "We are excited to work with Faraday and leverage its foundry relationship to create a combined force which provides our customers a highly reliable, best-in-class and vertically-integrated supply chain."About Innovasic Semiconductor
Innovasic Semiconductor designs, builds, and sells highly integrated embedded microcontroller solutions and peripheral ICs for the Industrial, Medical, Automotive, and Communications markets. The company has two product groups, Microcontroller Solutions Group and the Replacement IC Product Group. The Microcontroller Solutions Group is developing a new class of embedded microcontrollers with innovative features that will solve critical problems in real-time embedded control applications. The Replacement IC Group solves obsolescence problems by using a proprietary technology to produce ICs that are 100% drop-in compatible with an original discontinued IC. Today, many of Innovasic's replacement IC products are operating in the systems built by Fortune 500 electronics manufacturers in demanding applications ranging from engine control modules to industrial PLCs.. For more information, please visit http://www.innovasic.comAbout Faraday Technology Corporation
Faraday Technology Corporation is a leading silicon IP and fabless ASIC vendor. The company's broad IP portfolio includes 32-bit RISC CPUs, USB 2.0, Ethernet, Serial ATA, and PCI-Express. With more than 550 employees and 2004 revenue of $159 million, Faraday is one of the largest fabless ASIC companies in the Asia-Pacific region, and it also has a significant presence in other markets, worldwide. Headquartered in Taiwan , Faraday has service and support offices around the world, including the U.S. , Japan , Europe, and China . For more information, please visit: http://www.faraday-tech.com