Re-branding Underpins Strategy To Focus on DSP Cores And Related Applications; Change Will Coincide With Launch Of New CEVA-X DSP ArchitectureSan Jose, CA - November 24, 2003
- ParthusCeva, Inc., (NASDAQ: PCVA, LSE: PCV), the leading licensor of Digital Signal Processor (DSP) cores and platform-level IP to the semiconductor industry, announced today that the company will change its name to CEVA, Inc. The change is part of the company's recently announced strategy to focus on DSP cores and integrated application technologies, where it has the greatest market strength and opportunity. The name change will coincide with the launch of the company's pioneering new DSP architecture, to be called CEVA-X, and is expected to become effective on or about December 8, 2003.
"Combined with our business rationalization and new product programs, our branding change to CEVA will squarely focus the company on DSP, one of the most active and fastest growing markets in the semiconductor industry," said Chet Silvestri, CEO of ParthusCeva. "With our enhanced strategic focus, effective branding and a range of DSP-centric new technologies, which we will launch in the coming quarters, we expect to further consolidate our position as the leading licensor of DSP to the industry."
In conjunction with the change of corporate name, the ticker symbol for the company's common stock will change to "CEVA" on The NASDAQ National Market and "CVA" on the London Stock Exchange. The new ticker symbols are expected to become effective on or about December 8. The new CUSIP number for our common stock will be 157210 10 5; the new ISIN will be US1572101053; and the company's new website address will be www.ceva-dsp.com. Holders of stock certificates bearing the name "ParthusCeva, Inc." may continue to hold them and will not be required to exchange them for new stock certificates or take any other action.
CEVA offers a unique portfolio of IP in three integrated DSP-related technology areas, supported by Ceva's Xpert-Integration division:
1) CEVA DSP cores, the number-one licensed DSP architecture to the semiconductor industry, which will now include the new CEVA-X DSP architecture.
2) CEVA-Xpert Open Framework, a complete environment enabling licensees to rapidly and cost-effectively integrate application and communication IP with CEVA DSPs in a standard, reusable framework;
3) CEVA-Xpert Applications, a portfolio of complete, verified hardware and software system applications in areas such as multimedia (audio, video), GPS, VoIP, Bluetooth, and high-speed serial communications - powered by CEVA DSPs; and
4) Xpert-Integration, used in combination with CEVA's IP portfolio to deliver complete, end-to-end SoC solutions based upon industry-leading, open-standard DSP technology.
CEVA's technology has been licensed to over 100 leading semiconductor and electronic equipment companies worldwide, powering an estimated 60 million chips to be shipped this year alone in products serving the wireless, digital multimedia, automotive and networking end markets. CEVA's enhanced strategic focus and new branding are designed to leverage the company's leadership, broad customer base and growth opportunities in the expanding licensable DSP market.
Details of the company's innovative new CEVA-X architecture and the first CEVA-X deployment are expected to be announced in early December. About ParthusCeva, Inc.
Headquartered in San Jose, California, ParthusCeva (NASDAQ: PCVA and LSE: PCV) is the leading licensor of DSP cores and IP solutions to the semiconductor industry. This year, an estimated 60 million silicon chips are shipped powered by ParthusCeva technologies. For more information, visit www.parthusceva.com