Dublin, Ireland - May 15, 2001 - Parthus Technologies plc
(Nasdaq: PRTH, LSE: PRH), a leading provider of platform-level
semiconductor intellectual property, today announced that it has agreed to
acquire privately-held Chicory Systems, Inc. ("Chicory Systems") based in
Austin, Texas.

Chicory Systems has developed an advanced technology for accelerating
mobile Internet applications by migrating complex systems software into
high-performance silicon. Chicory Systems is venture-backed and was
incorporated in October 1999 by John Derrick, former computer architect at
IBM. It has 26 employees, including highly-qualified microprocessor design
engineers and algorithm development experts.

Under the terms of the agreement, up to 22,614,117 Parthus ordinary
shares and $11,708,555 in cash will be exchanged at closing for all
outstanding shares of Chicory Systems, amounting to a total initial
consideration of $41.4 million based on yesterday's closing price of
Parthus' shares. In addition, up to 20,558,289 Parthus ordinary shares may
be issued as deferred contingent consideration upon the achievement of
certain performance targets. Subject to the achievement of these targets,
up to 3,317,153 additional Parthus ordinary shares may be issued upon the
exercise of options granted by Chicory Systems that are being assumed by
Parthus. The acquisition has been approved by the boards of directors of
both companies and is subject to various closing conditions.

Parthus is acquiring Chicory Systems to provide a key enabling
technology for next generation mobile Internet devices. By incorporating
Chicory Systems' acceleration technology into the portfolio of Parthus
platforms, Parthus can enhance the performance of its existing mobile
Internet silicon IP solutions, as well as provide an industry-leading
stand-alone acceleration platform. Underscoring this enhancement, Parthus
has announced today the launch of MachStream, an intellectual
property-based application acceleration platform utilizing the technology
developed by Chicory Systems, as part of its strategy to deliver a
complete suite of enabling solutions for the mobile Internet.

MachStream is a high performance modular silicon platform that
accelerates critical mobile Internet applications, including multimedia,
Java and next generation browser scripting languages, while delivering
quantum improvements in the power efficiency and cost levels required for
mobile devices.

"We are delighted with today's acquisition of Chicory Systems which
endorses our strategy of sourcing best-in-class technology and reinforces
our commitment to deliver industry-leading next generation mobile Internet
products," said Brian Long, chief executive officer of Parthus. "The
addition of Chicory with its highly-advanced acceleration technology
perfectly complements our portfolio of platform-level IP. As ever, we
remain on the look-out for suitable companies that will compliment our
technology and enhance the Parthus offering."

About Chicory Systems

Chicory Systems is a semiconductor intellectual property (IP) provider
based in Austin, Texas. Chicory Systems has developed an advanced
technology for accelerating Internet applications by migrating complex
systems software into high-performance silicon. The company's products
address the performance and power requirements of handheld computing
devices running applications for the emerging mobile Internet environment,
as well as accelerating the performance of other devices such as set top
boxes and smart cards. Chicory Systems is venture-backed and the company
was incorporated in October 1999. In its first full year of operations,
Chicory Systems reported a loss of approximately $1.3 million.

About ParthusCeva, Inc.

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