SUNNYVALE, Calif.----Dec. 9, 1999--Aspec Technology, Inc. (Nasdaq:ASPC), a provider of advanced software solutions, which dramatically increase design productivity, announced plans to sell its System Intellectual Property (IP) business. This includes Aspec's traditional library business unit and Ascent Design Corporation, the design services business unit. P. ``The sale of the System IP business allows the Company to concentrate its full energy on its new strategic direction of providing advanced software solutions. Our software solutions increase design productivity through Silicon Intelligent(TM) Electronic Design Automation (EDA) tools and the automation and management of the actual design and product process from initial product development to end of life,'' stated Mike Carroll, president and CEO of Aspec. ``We have a great deal of talent and IP in our System IP business, which represents a significant value to the right company. We have generated considerable interest from potential purchasers and have active discussions underway. We hope to have a sale concluded during our first fiscal quarter.''
About Aspec Technology
Aspec Technology, Inc. (Nasdaq:ASPC) is a provider of advanced software solutions, which dramatically increase design productivity. Aspec's Silicon Intelligent(TM) Electronic Design Automation (EDA) tools address key deep submicron design and verification problems for complex Integrated Circuits (IC) and systems. Aspec's Inbox Software provides Internet-based, business-to-business, content management software solutions, which shorten time-to-market by managing product content and the business processes required to deliver and maintain content throughout the product lifecycle -- from concept to end-of-life. Aspec is located at 830 East Arques Avenue, Sunnyvale, CA 94086. More information is available at www.aspec.com.
This news release contains forward-looking statements related to Aspec which are based on current expectations that includes statements regarding the Company's future expectations, beliefs, hopes, intentions and strategies. These forward-looking statements may involve substantial risks and uncertainties. Actual results and developments therefore may differ materially from hose described in this release. For more information about Aspec and risks arising when investing in Aspec, you are directed to Aspec's most recent reports on Form 10-Q and registration statement on Form S-1 as filed with the United States Securities and Exchange Commission.