TORONTO, Aug. 14, 2007 (PRIME NEWSWIRE) -- Perfisans Holdings Limited (OTCBB:PFNH) ("Perfisans") , a next-generation semiconductor design house focused on the networking and consumer semiconductor market, today announced that it has signed a Letter of Intent to acquire a semiconductor-component channel distributor, Tiffany Technology Limited (TTL) http://www.tiffanytech.com.
Tiffany Technology Limited is a major channel distributor focusing on consumer semiconductor components and supply for the ever-increasing demand within Chinese markets. Its customers are specialized in wireless communications products. An important point, because the relationship allows Perfisans access to Tiffany Technology Limited's customers, a requirement for Perfisan's new tailored product development and deployment for the exploding consumer semiconductor market worldwide.
The Companies are excited about the significant mutual benefits of the merger. "As one of the major semiconductor channel distributors in China, the Perfisans -- Tiffany Technology Limited merger has significant benefits for both companies. By combining Tiffany Technology Limited's market position in China and Perfisans' IC (integrated circuits) design expertise and know-how, Tiffany Technology Limited is technologically equipped to offer complete semiconductor solutions to their customers. We consider this a quantum leap since last year's strategic move from technology development focus to business development focus," said Bok Wong, President and CEO of Perfisans.
As a result of the merger, Perfisans will tap into Tiffany Technology Limited's sales and marketing platform, and will accelerate the further establishment of these same platforms by addressing the fast-growing Asia Pacific markets. In turn, Tiffany Technology Limited will gain access to Perfisans' next-generation consumer networking and integrated circuit solutions and products.
"We are very excited about this acquisition, as it addresses semiconductor demand in the fastest growing market in the world. Perfisans' IC component is critical for large-volume and application-specific consumer wireless and handheld solutions," said Tiffany Kwok, Chairman and CEO of Tiffany Technology Limited. "Tiffany Technology Limited has been looking for an appropriate device and component specifically to address its wireless handheld application needs. Perfisans will fill the gap in our service offerings of applicable IC components and applications in this fast-growing market."
After Perfisans merges with Tiffany Technology Limited, Perfisans will continue to develop the next generation of integrated circuit (IC) products and solutions while Tiffany Technology Limited will become a business unit of Perfisans Holdings Inc., focused on the sales and marketing of semiconductor component products and solutions.
About Tiffany Technology Limited
Tiffany Technology Limited, founded in 2005, is a privately owned company headquartered in Hong Kong, China. Tiffany has set up a sales office in Guangzhou. Tiffany's focus is on the semiconductor component distribution market in China. Tiffany is committed to providing cost-effective integrated circuit solutions to the Chinese wireless and handheld customers.
About Perfisans Holdings, Inc.
Founded in 2001, Perfisans Holdings, Inc. is an emerging ASIC design house focused on developing leading edge, cost-effective, system-on-chip (SOC) integrated circuits (IC), and has been delivering innovative solutions that address the performance needs of next-generation network systems since inception. Rapidly being recognized by industry leaders for its innovative network interface products, the Company's technologies have applications in telecommunications, data communications, storage networks, content delivery networks, broadband networks, and rich streaming media.
Perfisans' proprietary chip technology is fully standards-compliant, and provides high efficiency, high-quality network connections for both business and home applications. The Perfisans' ENA1001 can efficiently process protocols such as IP and TCP, and its high-speed protocol-processing capabilities -- 10 times faster than typical 100M-bit networks -- can vastly improve the efficiency of the network. The ENA1001 network interface chip employs Perfisans' proprietary TCP offload engine (TOE), providing highly efficient network throughput to enable high-performance networks for a wide range of applications. More information can be obtained from the Company's web site at www.perfisans.com.
Cautionary Statement
This press release contains statements relating to future results of Perfisans (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; changes in product mix; product obsolescence; the availability of manufacturing capacity; fluctuations in manufacturing yields; pricing pressures and other competitive factors; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the uncertainties of litigation; our ability to attract and retain qualified personnel; as well as other risks and uncertainties, including those detailed from time to time in Perfisans' Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.