Addition to Management Team Underscores Company’s Focus on Growth
FREMONT, Calif., Aug. 14, 2003 – Virage Logic Corporation (Nasdaq:VIRL), a leading provider of best-in-class semiconductor IP platforms, today announced the appointment of Greer Person to the newly created position of vice president of business development. Responsible for mergers and acquisitions, strategic investments, alliances and strategy development, Greer’s addition to the management team emphasizes the company’s focus on growth and market leadership.
Person most recently served as senior director and head of business development at LSI Logic, where over the last five years he led many of the company’s acquisitions, integrations, divestitures and investments. Person also spent four years in LSI Logic’s marketing group serving as a product line manager and marketing manager responsible for mixed-signal, ASIC, and packaging technologies. Prior to LSI Logic, Person held several engineering and operations management positions at Intergraph Corporation. Person earned a BSEE from the University of Mississippi and an MBA from Santa Clara University.
“Greer is a key addition to our management team as we continue to rollout our semiconductor IP platform strategy and grow our market presence,” said Adam Kablanian, CEO and president, Virage Logic. “With his semiconductor industry background and proven track record in leading a company’s strategic growth initiatives, I look forward to Greer’s contribution to our ongoing success.”
“Virage Logic has had incredible success as an embedded memory provider, achieving double-digit annual growth since its founding in 1996,” said Person. “The company’s recently expanded product portfolio provides customers with a proven, single-source for semiconductor IP and positions the company well for continued long-term growth. I look forward to working with the management team to help drive the company into its next phase of growth.”
About Virage Logic
Virage Logic Corporation (Nasdaq:VIRL) is a leading provider of best-in-class semiconductor IP platforms based on memory, logic, I/Os, and IP development tools that are silicon-proven and production ready. Virage Logic meets market demands for cost reduction, while improving performance and reliability for fabless and integrated device manufacturer (IDM) companies focused on the consumer, communications and networking, handheld and portable, and computer and graphics markets. Virage Logic is headquartered in Fremont, California and has sales and support offices worldwide. For more information, visit www.viragelogic.com or call (877) 360-6690 toll free or (510) 360-8000.
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Statements made in this news release, other than statements of historical fact, are forward-looking statements, including, for example, statements relating to trends, business outlook, products, and customer relationships. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, which might cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include Virage Logic’s ability to forecast its business, including its revenue outlook; Virage Logic’s ability to execute on its strategy to become a provider of semiconductor IP platforms; Virage Logic’s ability to continue to develop new products and maintain and develop new relationships with third-party foundries and integrated device manufacturers; adoption of Virage Logic’s technologies by semiconductor companies and increases in the demand for their products; the company’s ability to overcome the challenges associated with establishing licensing relationships with semiconductor companies; the company’s ability to obtain royalty revenues from customers in addition to license fees, to receive accurate information necessary for calculating royalty revenues and to collect royalty revenues from customers; business and economic conditions generally and in the semiconductor industry in particular; competition in the market for semiconductor IP platforms; and other risks including those described in the company’s Annual Report on Form 10-K for the period ended September 30, 2002, filed with the Securities and Exchange Commission (SEC) on December 16, 2002, and in Virage Logic’s other periodic reports filed with the SEC, all of which are available from Virage Logic or from the SEC’s website (www.sec.gov), and in news releases and other communications. Virage Logic disclaims any intention or duty to update any forward-looking statements made in this news release.
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