EVE Reports Revenue Growth of 115% for Fiscal 2007

EVE, supplier of the broadest selection of hardware-assisted verification solutions, including hardware description language (HDL) acceleration, fast emulation and easy prototyping, announced that it closed its fiscal year March 30, 2007, with revenue growth of 115%. EVE also announced it has reached five consecutive quarters of profitability.

“These results show a stunningly successful year and I congratulate the entire EVE team for their hard work and dedication,” says Luc Burgun, EVE’s Chief Executive Officer (CEO) and President. “The increasing use of software content in system-on-chip designs requires new validation tools. Our ZeBu has proven to be the best product on the market to address this growing trend.”

The news comes after EVE expanded its customer base to 20 new customers, bringing the total to 50 customers and more than 200 systems installed worldwide.

New customers include LSI Logic Corporation, Panasonic Electronics, Olympus, Qualcomm and Electronics and Telecommunications Research Institute (ETRI). This momentous year also recorded volume deployment of the ZeBu (for zero bugs) verification platform among design teams at several major corporations.

In 2006, EVE moved to the next level of preparation for a healthy future. Highlights include the announcement in January that EVE acquired HDL accelerator developer Tharas Systems Inc., bringing the total number of employees to 80 worldwide. The acquisition expanded EVE’s position as the leading supplier of fast emulation and easy prototyping solutions to include best-in-class HDL accelerators.

On the product front, EVE introduced the largest capacity addition to the ZeBu family with the ZeBu-XXL fast emulation solution at EDS-Fair in January. ZeBu-AX, an HDL accelerator designed for ease of use with almost unlimited capacity, was unveiled last week during DATE.

ZeBu-XXL and ZeBu-UF are becoming the leading tools for addressing the increasing demand for fast — at or about 10 megahertz — and cycle accurate hardware/software co-verification.

They set new performance standards for transaction-based acceleration, challenging the traditional in-circuit emulation (ICE) approach.

Last month, EVE formed EVE Design Automation Pvt. Ltd. (EVE DA), a wholly owned subsidiary based in Bangalore, India, headed by Montu Makadia (Mak).

Additionally, EVE welcomed two seasoned executives to foster its success, naming Keith Hopkins to the role of Vice President of Worldwide Sales and William Addi as Chief Financial Officer (CFO).

About EVE
EVE offers the broadest selection of hardware-assisted verification solutions on the market, from hardware description language (HDL) acceleration to fast emulation and easy prototyping with the most cycles per dollar. EVE reduces the overall verification cycle of complex integrated circuits and electronic systems designs. Its products also work in conjunction with popular Verilog and VHDL-based software simulators from Synopsys, Cadence Design Systems and Mentor Graphics. EVE’s headquarters in the United States is San Jose, Calif.