San Jose, CA - January 22, 2003 - 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
"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."
About 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.
About ParthusCeva, Inc.
Further information about ParthusCeva
A PDF copy of this press release is also available here
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.