News Article
Technology agreement will integrate SoC with memory development tools
Virage Logic Corporation has announced its agreement to acquire Ingot Systems, Inc.
Virage Logic Corporation has announced its agreement to acquire Ingot Systems, Inc. The planned acquisition will expand Virage Logic's ability to serve the company's chosen market by adding new products and services required in the rapid development of System-on-Chip (SoC) integrated circuits to Virage Logic's current family of memory compilers, logic libraries and related development tools. The transaction is expected to close by mid August, 2007.Memory controllers play an important role in integrated circuits (ICs) involving external dynamic random access memory (DRAM); key markets for such ICs include data storage, enterprise networking, mobile, graphics and consumer electronics. "In our engagements with well over 300 existing worldwide customers, we have seen the need to provide additional IP building blocks to enable successful and timely development of large SoC products," said Dan McCranie, Virage Logic president and chief executive officer. "By bringing Ingot Systems' technology teams into our company, we believe we will be providing the initial technological and operational nucleus for Virage Logic to provide a much more comprehensive product and services solution to our customers.""We are excited to be a part of Virage Logic because the company's global sales channel will make Ingot Systems' product offering more broadly available in the market," said Jai Iyer, Ingot Systems co-founder, president and chief executive officer.Ingot Systems has approximately 30 employees in two locations: Santa Clara, Calif., and Pune, India. Ingot Systems' California employees will relocate to Virage Logic's Fremont headquarters. The Pune, India location will retain its employees and this site will establish Virage Logic's second research and development facility in that country.
