SAN JOSE, Calif., Jan. 22, 2003 (PRIMEZONE) --
Cirrus Logic and ParthusCeva Combine Mobile Computing Expertise and
High Performance Analog and DSP Chip Solutions to Develop
State-of-the-Art Home Entertainment Products
ParthusCeva, Inc. (Nasdaq:PCVA) (LSE:PCV), one of the industry's leading providers of licensable Digital Signal Processor (DSP) cores and solutions, today announced a relationship with Cirrus Logic, Inc. (Nasdaq:CRUS) for the co-development of products targeting the home entertainment electronics marketplace.
As part of the agreement, both Cirrus and ParthusCeva have supplied development resources and intellectual property to integrate ParthusCeva's InfoStream 2000 platform with Cirrus' high performance analog and DSP chip solutions. The co-development will result in one of the industry's most integrated application/multimedia processing chips. The program will target a broad range of digital and home entertainment products such as set-top boxes, home audio jukeboxes, servers and portable smart connected devices.
"Working with ParthusCeva, one of the leading experts in application and multimedia solutions, will contribute to our leadership of the digital entertainment revolution," said Daryl Sartain, Vice President of Audio Systems Marketing at Cirrus Logic. "We expect that the solutions we are jointly developing will enable the creation of an entirely new generation of digital entertainment devices."
"We are delighted to have formed this relationship with Cirrus that will target digitally connected home entertainment devices," said Gideon Wertheizer, EVP and CTO of ParthusCeva. "Given Cirrus' premier position in personal and home entertainment multimedia technologies, they are an ideal partner for ParthusCeva to leverage our technology and extend our reach into the home entertainment electronics marketplace."
ParthusCeva, Inc.
Headquartered in San Jose, with principal offices in Dublin, Ireland, and Herzeliah, Israel, ParthusCeva (Nasdaq:PCVA) (LSE:PCV) is a leading licensor of DSP and application-specific platform Intellectual Property (IP) to the semiconductor industry. ParthusCeva was created through the combination of Parthus Technologies plc, a leading provider of application-specific platform IP, and Ceva, formerly the licensing division of DSP Group, Inc.
Cirrus Logic, Inc.
Cirrus Logic is a premier supplier of high-performance analog and DSP chip solutions for consumer entertainment electronics that allow people to see, hear, connect and enjoy digital entertainment. Building on its global market share leadership in audio integrated circuits and its rich mixed-signal patent portfolio, the company targets mainstream audio, video and Internet entertainment applications in the consumer entertainment market. Cirrus Logic operates from headquarters in Austin, Texas, with offices in California, Colorado, Europe, Japan and Asia.
Safe Harbor Provision
This document contains "forward-looking statements," which are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated. Any statements that are not statements of historical fact (including, without limitation, statements to the effect that the company or its management "believes," "expects," "anticipates," "plans" and similar expressions) should be considered forward-looking statements. Important factors that could cause actual results to differ from those indicated by such forward-looking statements, include uncertainties relating to the ability of management to successfully integrate the operations of Parthus and Ceva, uncertainties relating to the acceptance of our DSP cores and semiconductor intellectual property offerings, continuing or worsening weakness in our markets and those of our customers, quarterly variations in our results, and other uncertainties that are discussed in the registration statement on Form S-1 and the most recent quarterly report on Form 10-Q of ParthusCeva, on file with the U.S. Securities and Exchange Commission.
Except for historical information contained herein, the matters set forth in this news release, including Cirrus' expectations regarding its leadership of the digital entertainment revolution and the future of digital entertainment devices, are forward-looking statements that are dependent on certain risks and uncertainties including such factors, among others, as the ability of ParthusCeva's platform and Cirrus' chip solutions to perform as expected and the risk factors listed in the company's Form 10-K for the year ended March 30, 2002, and in other filings with the Securities and Exchange Commission. The foregoing information concerning Cirrus Logic's business outlook represents our outlook as of the date of this news release, and Cirrus Logic undertakes no obligation to update or revise any forward-looking statements, whether as a result of new developments or otherwise, except as required by law.
Cirrus Logic is a trademark of Cirrus Logic, Inc. All other product names noted herein may be trademarks of their respective holders.