TOKYO – September 30, 2003- ArtLogic Incorporated (“ArtLogic”) has attracted a key strategic investment from a multinational design services firm, IPCore Technologies Corporation (“IPCore”), a Cayman Islands registered company with offices in Silicon Valley USA and Shanghai, China. IPCore is backed by a notable consortium of international investors including Walden International, Vertex, Sycamore, and Pacific Venture Partners. It is an international design services company serving customers in the US, Japan, and China, offering a one-stop design services solutions for its customers.
The initial interest by IPCore to invest in ArtLogic was a result of the ArtLogic team’s significant strength in IC design services for analog and LCD driver technology, and its solid reputation among Japanese Integrated Device Manufacturers (“IDMs”).
“We are very impressed by the high degree of skill and expertise that the ArtLogic team possesses,” stated IPCore CEO Dr. Peter Chen. “Their reputation for design services is well-known in the Japanese market and beyond.”
The agreement was signed on September 26, 2003, in Tokyo, Japan by Wilson Yu, President of IPCore, Mr. Yukihiko Chayama, President of SII and ArtLogic. Mr. Mitsunori Katsu will be new CEO of ArtLogic. IPCore’s investment represents an 88% stake in ArtLogic. Mr. Katsu retains the remaining 12% ownership of ArtLogic.
“I want to strengthen our international competitiveness and establish our status as a global analog design company,” stated Mr. Mitsunori Katsu, new CEO of ArtLogic.
A Win-Win Strategic Partnership is Born
Going forward, ArtLogic will operate under the capable leadership of Mr. Mitsunori Katsu. ArtLogic has a staff of 13 seasoned design specialists with over 100 years of combined analog design experience and over 50 years of combined LCD design experience. Such expertise, joined forces with IPCore’s international scope, will enable ArtLogic to bring its design service expertise, currently well recognized by many large Japanese IDMs, to a wider global customer base. ArtLogic will also continue to be the preferred design service partner of Seiko Instruments Inc. (“SII”), and additional strategic partnerships are currently under discussion.
“Combining ArtLogic’s well recognized IC design service ability and position in the Japanese market with IPCore’s global network provides tremendous synergy. Working together, we expect these two companies will be able to provide a highly competitive, end-to-end design solution for their customers,” stated Mr. Yukihiko Chayama, President of SII.
IPCore shares ArtLogic’s vision for an increasing emphasis on offering one-stop turnkey solutions to its customers. By leveraging IPCore’s high-end analog design team in Silicon Valley and a highly cost-competitive back-end design service team in China, ArtLogic will be able to further expand its scope of product offerings and improve service to its existing and future customers, both in Japan and globally. With the new partnership, ArtLogic will save up to 30% over current Japanese vendors in its backend design service outsourcing. IPCore has already developed solid strategic partnerships with foundries in China, Taiwan and Japan, which will allow ArtLogic to significantly enhance its turnkey service offering, both in terms of guarantee capacity and also in competitive wafer price. Tapping into IPCore’s foundry network is expected to lower ArtLogic’s wafer costs by an estimated 10-20% going forward.
Thus, the new partnership is a win-win proposition for both ArtLogic and IPCore.
“IPCore and ArtLogic are creating a new business model, a one stop turn key design solution in the semiconductor industry, and it does require global coverage and good utilization of all resources in the US, Japan and China. This partnership is realizing all key elements of success,” stated Mr. Hiroshi Ishiwata from Walden International Japan.
[About Artlogic]
ArtLogic was founded in October 2000 by the EDA Division of SII. Strategically located in Tokyo, Japan, ArtLogic’s focus is on design services for analog, digital and mixed signal technologies. It offers a broad range of design services to its customers, who are some of Japan’s largest IDMs. They continue to the preferred design service partner of SII.
ArtLogic’s team of 13 seasoned design specialists has over 100 years of combined analog design experience and over 50 years of combined LCD design experience.
[About IPCore]
IPCore Technologies is a Cayman Islands registered company with offices in Silicon Valley, US and Shanghai, China. It is the first Pure Design Foundry Company in China to provide a One-Stop-Silicon-Solution to domestic and international IC product companies. Founded in 2001 with headquarters in Shanghai’s CaoHeJing Hi-Tech Park,IPCore has strong partnership with various wafer foundries, testing & packaging houses and global tier-one IC companies. IPCore’s investor base is composed of a notable consortium of international venture capital firms including Walden International, Vertex, Sycamore, and Pacific Venture Partners.
[About SII]
SII was founded in 1937. SII is one of the world’s leading watch manufacturers and is also engaged in the development and manufacturing of wide range of innovative goods from consumer products like electronic dictionaries to mobile information terminals including computer peripherals, electronic components and analytical measuring instruments.
[About Walden International] (Japan)
Walden International is a leading global venture capital firm, providing early stage-technology companies with the advantage of an unrivaled global network since 1987. The firm’s international venture capital funds comprise approximately US$2 billion in committed capital. Apart from Tokyo, Japan, Walden International’s global organized network of multi-cultural professionals spans the United States, Hong Kong, China, Singapore, Taiwan, India, Malaysia and Philippines. For more information, please visit www. waldenintl.com.
Contact Information
Seiko Instruments Inc.
Corporate Communications Dept.
Yako
Fax:+81-43-211-8011
E-mail:pr@sii.co.jp
IPCore Technologies (Cayman) Co.,Ltd.
Raymond Tong
Raymond_Tong@ipcoreinc.com