Press Release
Elven Technologies Pvt. Ltd. acquires Indian arm of AMCC.
Mumbai, May 26, 2006 - Elven Technologies Pvt. Ltd. (ELVEN), an associate company of Aftek Ltd. (AFTEK, BSE Code: 530707/NSE Code: AFTEKINFO), has acquired 100% of AMCC Technology Solutions India Pvt. Ltd., Bangalore, the Indian subsidiary of US-based, Applied Micro Circuits Corporation (AMCC), a NASDAQ listed company (Code: AMCC).
Elven will initially provide engineering services to AMCC. These services include VLSI verification and testing of the microcode for AMCC's Network Processor and System-On-Chip (SOC) based on PowerPC core. AMCC's vision of 'Being the premier provider of solutions for processing, transporting and storing information for Digital Multimedia convergent networks of future,' matches well with Aftek's focus in the area of Digital Home Automation, Communication and Entertainment solutions. Elven will soon start offering services for design, verification and testing of VLSI and FPGA-based cores and SOCs to clients other than AMCC in the North America and Asia-Pacific regions. Elven's plans also include developing its own Implementable and Verification Intellectual Properties (IPs) in high-growth areas like Wireless LANs and access controllers, RFIDs, Storage, etc.
Aftek's U.S. partner V-Soft, Inc. has had a long-term association with AMCC providing ASIC verification services. In this relationship, AMCC found a strong, experienced, committed management team best suited for managing Indian operations.
Ranjit Dhuru, Aftek CEO says, 'Our association with the leading Network Processor and Switching Fabric IC supplier gives us very exciting business opportunities. Getting into VLSI naturally extends our embedded competencies. And with matching visions, we expect more synergies in other fields too.'
Mumbai, May 26, 2006 - Elven Technologies Pvt. Ltd. (ELVEN), an associate company of Aftek Ltd. (AFTEK, BSE Code: 530707/NSE Code: AFTEKINFO), has acquired 100% of AMCC Technology Solutions India Pvt. Ltd., Bangalore, the Indian subsidiary of US-based, Applied Micro Circuits Corporation (AMCC), a NASDAQ listed company (Code: AMCC).
Elven will initially provide engineering services to AMCC. These services include VLSI verification and testing of the microcode for AMCC's Network Processor and System-On-Chip (SOC) based on PowerPC core. AMCC's vision of 'Being the premier provider of solutions for processing, transporting and storing information for Digital Multimedia convergent networks of future,' matches well with Aftek's focus in the area of Digital Home Automation, Communication and Entertainment solutions. Elven will soon start offering services for design, verification and testing of VLSI and FPGA-based cores and SOCs to clients other than AMCC in the North America and Asia-Pacific regions. Elven's plans also include developing its own Implementable and Verification Intellectual Properties (IPs) in high-growth areas like Wireless LANs and access controllers, RFIDs, Storage, etc.
Aftek's U.S. partner V-Soft, Inc. has had a long-term association with AMCC providing ASIC verification services. In this relationship, AMCC found a strong, experienced, committed management team best suited for managing Indian operations.
Ranjit Dhuru, Aftek CEO says, 'Our association with the leading Network Processor and Switching Fabric IC supplier gives us very exciting business opportunities. Getting into VLSI naturally extends our embedded competencies. And with matching visions, we expect more synergies in other fields too.'
About AFTEK :
Aftek Limited, an ISO 9001 company listed on BSE and NSE, with an annual turnover of Rs 197.81 crore, is focused on building value added products and end-to-end solutions for e-business applications and management. The company's success over the years can be attributed to its core intellectual property (IP) driven solutions. Today, Aftek has 60 IPs to its credit. Malaysian electronics manufacturing giant G-tec uses Aftek's Jadoogar technology for their Personal Wireless Gateway products. Aftek's German subsidiary, Arexera Information Technologies GmbH, provides a suite of products for Enterprise Information Management and Search. Its Pan-European Internet Search Engine, Seekport, is making strong footprints in Germany, France, UK, Italy and Spain. Today, technology-leveraged software services contribute 86 per cent of Aftek's revenue. For information please visit www.aftek.com.
About AMCC:
AMCC is a global leader in network and embedded PowerPC processing, optical transport and storage solutions. AMCC's products enable the development of converged IP-based networks offering high-speed secure data, high-definition video and high-quality voice for carrier, metropolitan, access and enterprise applications. AMCC provides networking equipment vendors with industry-leading network and communications processing, Ethernet, SONET and switch fabric solutions. AMCC is also the leading vendor of high-port count SATA RAID controllers enabling low-cost, high-performance, and high-capacity storage. AMCC's corporate headquarters are located in Sunnyvale, California. Sales and engineering offices are located throughout the world. For further information regarding AMCC, please visit www.amcc.com.
For more information, please contact
| Mr. Promod Broota promodb@aftek.com +91-22-2445 4016 |
Ms. Sonal Desai sonal.desai@pranapr.com +91-98690 49045 |