FREMONT, Calif., January 29, 2004
— Virage Logic Corporation (Nasdaq:VIRL), a leading provider of best-in-class semiconductor IP platforms, today announced the appointment of Mike Seifert to the post of chief financial officer (CFO). Responsible for all financial, administrative and operational aspects of the company, Seifert will report directly to Adam Kablanian, Virage Logic’s president and CEO.
Seifert will join Virage Logic on February 9, 2004, from Southwall Technologies, Inc. (Palo Alto, Calif.), a manufacturer of thin-film coatings for electronic, automotive and architectural applications, where he currently serves as CFO and corporate secretary. Previously, Seifert held CFO and senior finance positions at several other Bay Area technology companies, including Internet infrastructure and managed services provider SiteSmith, Inc. (Santa Clara, Calif.), enterprise software developer SmartDB Corp. (Palo Alto, Calif.), Wayfarer Communications, Inc. (Mountain View, Calif.), an Internet and intranet software developer, and PMC-Sierra, Inc. (San Jose, Calif.), a manufacturer of mixed-signal communications chips. Seifert also previously served as a principal and senior manager at Ernst & Young (San Jose, Calif.).
“With improving industry trends and the growing adoption of our semiconductor IP platform offering, Virage Logic is at an inflection point and well positioned for its next growth phase. At this important juncture, a seasoned CFO such as Mike will be a tremendous asset,” said Adam Kablanian, president and CEO, Virage Logic. “His experience spans virtually all aspects of corporate finance from companies much smaller to several times larger than Virage Logic and he will be a strong addition to our management team.”
“Virage Logic has all the essential ingredients necessary for success: innovative and proven technology, a loyal and growing global customer base and strong partnerships with industry leading foundries, IP developers and EDA companies,” said Seifert. “I look forward to working with Virage Logic’s exceptionally talented management team to help take the company to its next phase of growth.”
Seifert is a magna cum laude graduate of Santa Clara University with a bachelor of science degree in commerce, with a major in accounting.
About Virage Logic
Virage Logic Corporation (Nasdaq:VIRL) is a leading provider of best-in-class semiconductor IP platforms based on memory, logic, and I/Os 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.
SAFE HARBOR STATEMENT FOR VIRAGE LOGIC UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:
Statements made in this news release other than statements of historical fact are forward-looking statements, including, for example, statements relating to Virage Logic's business outlook, new products and new 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 maintain and develop new relationships with third-party foundries, adoption of 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, business and economic conditions generally and in the semiconductor industry in particular, competition in the market for embedded memories 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 press 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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