Mountain View, CA, March 9, 2004 * * * Verisity Ltd. (Nasdaq:VRST), the leading supplier of Verification Process Automation (VPA) solutions, once again has been named the revenue leader in the Electronic System Level (ESL) Test and Verification market in 2002, according to the most recent study conducted by Gartner Dataquest. With 55% market share - more than twice that of its nearest competitor - Verisity is the top ranked company in the hottest growth area. Gartner Dataquest forecasts that the ESL test and verification market will reach $270 million by 2007. Today's news confirms the industry's need for solutions that combine process automation with performance that scale from the unit, to the chip/system and project levels to solve the complexities of verification of nanometer SoCs.
According to the latest Gartner Dataquest EDA Market Trends report, "EDA 2003: Past the Inflection Point," February 5, 2004, the continued expansion of the ESL market for 2002 was driven by the rapid growth of the ESL test and verification segment, "Verification is driving the move to the ESL methodology. ESL test and verification is a hot area, and we expect to see significant growth."
Market Embraces Verification Process Automation
Functional verification is the number one bottleneck in the nanometer IC development cycle, consuming as much as 70 percent of the entire design cycle. Incomplete verification is the source for 611 percent of all respins, which typically cost millions of dollars and several months of lost engineering manpower at 90-nanometer geometries. Verisity's VPA solutions combine processes with automation to simplify verification and increase engineers' productivity, design quality and predictability towards closure.
"The numbers speak for themselves, the market has chosen Verisity because our comprehensive VPA solutions virtually remove the largest risks to project success" said Moshe Gavrielov, Chief Executive Officer for Verisity. "Verisity's VPA solutions scale to meet the needs of block, chip and full system-level verification and provide the tools required to manage all interdependent activities to closure."
Verisity Ltd. (NASDAQ: VRST) is the leading supplier of process automation solutions for the functional verification market. The Company addresses customers' critical business issues with its market-leading software and intellectual property (IP) that effectively and efficiently verify the design of electronic systems and complex integrated zacircuits for the communications, computing and consumer electronics global markets. Verisity's VPA solutions enable projects to move from executable verification plans to unit, chip/system and project level 'total coverage' and verification closure, while maximizing productivity, product quality and predictability of schedules. The Company's strong market presence is driven by its proven technology, methodology and solid strategic partnerships and programs. Verisity's customer list includes leading companies in all strategic technology sectors. Verisity is a global organization with offices throughout Asia, Europe, and North America. Verisity's principal executive offices are located in Mountain View, California, with its principal research and development offices located in Rosh Ha'ain, Israel. For more information, visit www.verisity.com.
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