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Magma expands in India

Posted: 31 Jan 2007 ?? ?Print Version ?Bookmark and Share

Keywords:EDA? Magma Design? design? Richard Goering?

EDA provider Magma Design Automation Inc. has moved to new facilities in India and the U.S. in anticipation of expanding staff and operations in both regions, the company reported Monday (Jan. 29).

The company's Bangalore, India operation is moving to a new 40,000 square foot facility. It's one of three facilities that Magma currently has in India, including Noida and Mumbai (Bombay), which was added with the November 2006 acquisition of Knights Technology. Magma has over 200 employees in India and expects to expand "significantly" in this region, according to the company.

Meanwhile, in the United States, Magma is relocating its corporate headquarters from Santa Clara, Calif. to new offices in San Jose, Calif.

Magma, a provider of IC implementation systems, recently announced record revenue of $45.1 million for its third fiscal 2007 quarter ending Dec. 31, 2006. But the company is continuing to show heavy GAAP losses due largely to the expenses of previous acquisitions, with a $13.6 million tab in Q3.

- Richard Goering
EE Times




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