SAN JOSE, Calif., July 20 /PRNewswire-FirstCall/ -- CEVA, Inc. (NASDAQ: CEVA)(LSE: CVA), the leading licensor of digital signal processor (DSP) cores, multimedia and storage platforms to the semiconductor industry, and Hong Kong Applied Science and Technology Research Institute Company Limited (ASTRI) jointly announced today the CEVA-TeakLite™ DSP and associated multimedia software chosen by ASTRI's IC Designs Group, which will be developed into a fully integrated, low power audio SoC platform solution. This is one of the projects driven by ASTRI IC Design Group's Multimedia Platform (MMP) initiative. The mission of MMP is to enable a platform-based solution with comprehensive video/audio codec Intellectual Properties (IP) for semiconductor companies in Hong Kong and Greater China. This solution is for developing a cost-effective SoC for a wide range of multimedia applications, such as portable multimedia players, IPTV, etc.
The CEVA-TeakLite's unique feature, which combines optimal performance and complete audio and imaging codec software, is the key factor for ASTRI's decision to licence the DSP. Using a single source for both the DSP and the software, the platform offers ASTRI the benefit of a highly optimized system that delivers power and performance advantages, and ease-of-integration -- all crucial factors in the successful development of a product for the highly competitive portable multimedia markets.
"By collaborating with a world-class IP company like CEVA, we are able to provide state-of-the-art technologies for manufacturers that compete at the highest level within the semiconductor industry," said Raymond Chiu, vice president and R&D director of ASTRI IC Designs Group. "CEVA's excellent track record in customer support and wealth of experience in partnering with companies that successfully bring products to market is the reason we partnered with them. We look forward to a successful long-term strategic partnership with CEVA."
"Partnering with ASTRI is of significant importance to our expansion strategy into the growing semiconductor industry in Greater China," said Gideon Wertheizer, CEO of CEVA. "ASTRI's relationship with local China-based fabless companies and proven track record in IP deployment provide an excellent platform from which we can deliver our CEVA-TeakLite DSP and multimedia software in highly optimized and affordable solutions to the portable multimedia markets."
About CEVA, Inc.
Headquartered in San Jose, Calif., CEVA is the leading licensor of digital signal processor (DSP) cores, multimedia and storage platforms to the semiconductor industry. CEVA licenses a family of programmable DSP cores, associated SoC system platforms and a portfolio of application platforms including multimedia, audio, Voice over Packet (VoP), Bluetooth, Serial Attached SCSI (SAS) and Serial ATA (SATA). In 2005, CEVA's IP was shipped in over 130 million devices. For more information, visit http://www.ceva-dsp.com/.
Hong Kong Applied Science and Technology Research Institute Company Limited (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2001 to provide world-class innovative technologies, and build a new strategic framework for innovation and technology development. In 2006, ASTRI was appointed by the Innovation and Technology Commission to be the host of the HK R&D Center for Information and Communications Technologies to perform high-quality R&D for technology transfer to industry, develop needed technical human resources and act as a focal point that brings together industry and university R&D assets to enhance Hong Kong's technological competitiveness on a continuous basis. ASTRI's R&D activities focus on four closely interrelated technological domains -- IC Designs, Communications Technologies, Enterprise & Consumer Electronics, and Material & Packaging Technologies. ASTRI's objectives will be nothing short of establishing ASTRI as Greater China's best and the most strategic R&D center in the technology domain we work in, and become a truly strategic asset that would enable Hong Kong to capture values from competitive technologies for years to come. For more information about ASTRI, please visit http://www.astri.org/.
This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that if they materialize or prove incorrect, could cause the results of CEVA to differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including Mr. Wertheizer's statements about opportunities for CEVA in China's semiconductor industry and the partnering with ASTRI to better deliver CEVA's technologies to portable multimedia markets in China. The risks, uncertainties and assumptions include: intense competition within, and challenging period of growth experienced by, the industry in which the Company competes; failure of the market for the Company's technology to develop as expected, especially in the case of newly introduced or planned to be introduced technologies; the Company's ability to timely and successfully develop and introduce new technologies and other risks relating to CEVA's business, including, but not limited to, those that are described from time to time in the Company's Securities and Exchange Commission filings, including but not limited to its Annual Report on Form 10- K for the fiscal year ended December 31, 2005, and its quarterly reports filed after the Form 10-K. CEVA assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
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