New funding enables strategic extensions to company's product portfolio and corresponding expansion of its sales and distribution network
MUNICH & TOKYO & SUNNYVALE, Calif., May 31, 2012 -- OneSpin Solutions, an EDA company that provides innovative formal assertion-based verification solutions to chip and systems designers, today announced it has secured new funding from its major shareholder, Azini Capital. The investment will finance strategic extensions to the company's portfolio of solutions for the formal verification and equivalence checking of both SoC/ASIC and FPGA designs, together with the development and deployment of a range of solutions targeted at new adopters. The company also has announced a management change, with Raik Brinkmann, who joined the company at its inception in 2005, assuming the role of President and Chief Executive Officer, to lead and manage the company's growth strategy.
"Since acquiring OneSpin in January 2011, we have been hugely impressed by the calibre of the team and the outstanding quality of the company's products," said Paul Hill, Partner of Azini Capital. "OneSpin already solves the verification challenges of several of the world's leading semiconductor and electronic system companies. However, we share the management's confidence that with this additional investment the company can further broaden its customer base. Our decision to invest in OneSpin underlines our confidence in the long-term future of the company."
Brinkmann said, "While the market's use of formal verification technology has increased dramatically in recent years, the EDA industry could do even more to address the mass market of engineers who want to adopt formal verification solutions, but have little or no expertise in their use. The new funding will enable us to address this significant market opportunity by developing and providing easy-to-use formal solutions targeted at specific, well-defined verification challenges, giving new adopters an easier and faster entry into the use of formal methods."
About OneSpin Solutions
Headquartered in Munich, OneSpin was established in May 2005 as a commercial EDA company by Infineon AG and Apax Partners. It leverages more than 300 engineer-years of formal verification technology development and application service experience accumulated at Infineon and Siemens. The company's award-winning solutions enable customers to avoid costly redesigns and respins, while dramatically reducing their verification effort and costs, and significantly reducing time-to-market.
Market-leading telecommunications, automotive, consumer electronics, and embedded systems companies rely on OneSpin's award-winning products to substantially reduce verification effort and achieve the industry's highest-possible verification quality.
For further information please visit http://www.onespin-solutions.com/ or email email@example.com
About Azini Capital
Azini Capital is a UK-based private equity firm that specialises in acquiring portfolios of private and public technology companies from historical investors and shareholders (secondary transactions). Azini Capital typically holds investments for a number of years -- providing additional funding if required -- in order to maximize the growth, development and ultimate value of the companies. The firm has completed a series of transactions since its formation in 2004 including the acquisition of portfolios from Apax Partners, J.P. Morgan and CLS Holdings plc., and has enjoyed a number of successful exits. For further information please visit www.azini.com