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System EDA firm raises $3M for expansion

Posted: 14 May 2004 ?? ?Print Version ?Bookmark and Share

Keywords:eda tool? beach solution? mti partner? esl?

Beach Solutions Ltd, a developer of system-level EDA tools, has raised $3 million to help expansion in the U.S., the company said Monday, May 10, 2004.

Funding comes from MTI Partners, Beach Solutions' lead investor, and brings the total for Beach's venture financing to $7.2 million.

The company said it would use the funds to pursue a major account sales strategy in the U.S.

"We invested in Beach Solutions because the ESL market is very attractive from an investment point of view. Dataquest foresees strong ESL growth, with a compound annual growth rate of 33.2 percent from 2002 to 2007," said Tom Jarman, an MTI partner.

Beach Solutions cofounded of the Spirit (Structure for Packaging, Integrating, and Re-using IP within Tool flows) Consortium, along with Philips Semiconductors, STMicroelectronics, ARM Holdings plc, Cadence Design Systems Inc., Mentor Graphics Corp. and Synopsys Inc. The group aims to ease the transfer of intellectual property cores between IP vendors, EDA companies, semiconductor and systems companies.

- Peter Clarke

Silicon Strategies

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