Move Ensures Continuity for CAM350, FabFactory Customers
MARLBORO, Mass.--(BUSINESS WIRE)--Jan. 17, 2002--Innoveda, Inc. (Nasdaq: INOV - news), a leading provider of electronic product design software and services today announced a strategic agreement with manufacturing software solutions provider DownStream Technologies for ongoing development, marketing and distribution of its computer-aided-manufacturing (CAM) product line. The move is part of Innoveda's previously announced strategic decision to shift its technology focus to specific, mission-critical areas of the design flow, including high-speed printed circuit board design.
Under terms of the agreement, DownStream Technologies has acquired rights to the source code for the CAM350 and FabFactory software products from Innoveda and, as of Feb.1, will assume the future development of these two products for the marketplace. Innoveda retains the source code for the CAM350 and FabFactory products, and will continue to integrate relevant functions of CAM350 and FabFactory into its PowerPCB and BlazeRouter products, for upfront product planning.
DownStream Technologies plans to focus primarily on PCB verification, optimization, and preparation for manufacturing, and will become an Innoveda Vendor Integration Alliance partner to ensure that its CAM product lines continue to work smoothly with Innoveda's PCB offerings. The company was founded by Richard A. (Rick) Almeida, formerly vice president of marketing for Innoveda's Product Realization Group, and Joseph G. (Joe) Clark, formerly vice president of Indirect Channels at Innoveda.
Growth Path Assured
"This agreement is clearly a win/win situation," said Rick Lucier, chief operating officer at Innoveda. "It enables Innoveda to focus on building leading high-speed PCB solutions, while ensuring that our CAM customers are well supported and serviced. They have the satisfaction of knowing their investments in the CAM350 and FabFactory products are well protected and have a bright future. DownStream Technologies' knowledgeable management team is intimately familiar with the CAM350 and FabFactory products and applications, and can ensure that these products remain on the cutting edge."
Rick Almeida, president of DownStream Technologies, said, "With our dedicated focus on software applications that streamline the transition of electronic products from engineering into manufacturing, DownStream can maintain the consistently high level of product development, marketing, and customer service CAM350 and FabFactory customers have experienced at Innoveda. DownStream is planning a major release soon to demonstrate our commitment to the development of these products. We're excited about the future, and look forward to a long and successful relationship with our customers as we support their specific downstream needs."
Design Quality for Manufacturing
CAM350 technology was created to bring manufacturing requirements directly into the design process. It provides fabrication analysis and optimization for PCB design, and advanced tooling and process control for PCB fabrication. By identifying and fixing manufacturing issues in a design prior to manufacture, it reduces design respins, resulting in substantial time- and cost-savings.
FabFactory software was created to help streamline and automate the board fabrication process, to improve performance yields and accuracy. It enables fabricators to significantly reduce CAM process time, while improving board manufacturability.
About DownStream Technologies
DownStream is focused on the needs of the mainstream PCB fabrication market and offers customers significant price/performance value over alternative solutions. Customers can find out more about DownStream by logging onto http://www.downstreamtech.com/.
Innoveda, Inc. (Nasdaq "INOV") is a worldwide leader in electronic design automation (EDA) technology, software and services for successful businesses in the consumer electronics, computer, telecommunications, automotive and aerospace industries. The company's innovative solutions are intended to empower people for mission- critical areas of the design process. Headquartered in Marlboro, Mass., Innoveda has sales offices and research centers worldwide. Additional information can be found at: http://www.innoveda.com/.
This press release includes forward-looking statements that are
subject to a number of risks and uncertainties. All statements, other
than statements of historical facts, included in this press release
including, without limitation, statements regarding Innoveda's
financial projections for any period, strategy, future operations,
financial position, prospects, plans, goals and objectives of
management are forward-looking statements. When used in this press
release, the words "will", "believe", "anticipate", "intend",
"estimate", "expect", "project", "plan" and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. We cannot
guarantee future results, levels of activity, performance or
achievements, and you should not place undue reliance on our forward-
looking statements. Our forward-looking statements do not reflect the
potential impact of any future transactions or strategic alliances.
Our actual results could differ materially from those anticipated in
these forward-looking statements as a result of various factors,
including the availability of financial resources, the ability of
Innoveda to successfully integrate its business combinations, recent
economic uncertainty, weakness in the business of our customers,
Innoveda's ability to develop new products and market acceptance of
those products, the cyclical nature of the electronics industry, the
failure of Innoveda's quarterly results to meet market expectations,
the impact of financial charges related to business combinations, the
intense competition Innoveda faces, and the other risks described in
Innoveda's annual report on Form 10-K for the fiscal year ended
December 30, 2000 as filed with the Securities and Exchange Commission
on March 30, 2001, Innoveda's most recent quarterly report on Form
10-Q and the other public filings made by Innoveda with the SEC, which
factors are incorporated herein by reference.
Innoveda, Inc. North America: Sarah Miller, 508/303-5254 Email Contact Europe/Middle East: Peter van der Sluijs, +44 1442 879222 Email Contact Asia Pacific: Mieko Takiyama, 011-81-3-5485-8101 Email Contact