SAN JOSE, California, January 20, 2003¡V Palmchip Corporation, a pioneer in system-on-chip (SoC) platform IP technology, and Dimension Funding, LLC a leader in capital equipment financing today announced an alliance to offer financing services for semiconductor Intellectual Property (IP) licensing. This agreement allows Palmchip customers to license either an SoC platform or individual IP blocks through Dimension Funding, providing Palmchip customers with the ability to spread payments for the license fee over extended periods of time.
¡§To our knowledge, no one in the IP industry has offered this type of innovative service to its customers, ¡§ said Jim Venable, vice president of sales and marketing for Palmchip. ¡§This offering gives small companies¡Xor any size company that wants to carefully manage their cash outlay¡Xa way to immediately get the technology they need to build their products while at the same time conserving their cash until the product goes into production¡¨. With this alliance customers can finance the IP license over varying periods of time from 90 days to three years or more.
¡§This partnership opens up a whole new market segment for us,¡¨ said Michael Wagner CEO of Dimension Funding. ¡§We are pleased to be able to offer this service to Palmchip¡¦s customers as a new tool to help them achieve their business goals.¡¨
Under the arrangement, once the customer chooses a product from Palmchip and decides to finance the license fee, they will work directly with Dimension Funding to set up a financing program that meets the needs of their company. All payments for the license fee will then be made to Dimension.
Palmchip Corporation develops and licenses configurable SoC platforms, subsystems, and IP cores for embedded SoC¡¦s used in a variety of applications. Palmchip's IP is based on its CoreFrame„¥ integration technology. This technology is independent of processor, I/O or foundry, allowing designers flexibility in porting IP from any number of sources. Palmchip was established in 1996 and is today a privately held company based in San Jose, California (USA). More information can be obtained at www.palmchip.com.
About Dimension Funding, LLC
Dimension Funding, LLC was founded in 1978 and is a national provider of equipment leasing and financing services. Located in Irvine California with additional offices in Beverly Hills and Tahoe Nevada, it is the largest leasing organization in the region. More complete information on financing options is available on the company¡¦s website: www.dimensionfunding.com
Palmchip, the palm leaf logo and CoreFrame are registered trademarks of Palmchip Corporation. AcurX, Matrix, Timing Taps, and CrosSwitch are trademark of Palmchip Corporation. All other trademarks are the property of their respective owners