Verplex is top dog in formal verification

Verplex reckons it has taken top spot in the market for formal verification tools.

The EDA Consortium Market Statistics Service (MSS) reported that the formal verification market reached $49.9 million in revenue in 2001.

Based on the MSS reported market size and Verplex revenue performance, Verplex has achieved majority market share with more than 50% market share.

The EDAC report is based on information supplied by Verplex and other EDA suppliers of formal verification software.

Pamela Parrish, executive director of the EDA Consortium, notes: "Formal verification is experiencing rapid growth.

The MSS reports that this segment grew 51% between 2000 and 2001".

Garo Toomajanian, vice president, research analyst, of RBC Capital Markets, adds: "Verplex is a company well worth watching.

It has an easy-to-use and high-performance technical product, a referenceable customer base and strong leadership".

"Starting with three people in a tiny office and facing a crowd of competition, few would have predicted our phenomenal growth", remarks C Michael Chang, president and chief executive officer of Verplex.

"Our success was largely accomplished by working closely with customers to build the solutions they need.

When we began, formal verification was still somewhat young.

We have proven to the EDA industry you can build formal verification tools that are reliable and mature, and that these tools are strategically essential for system-on-chip design".

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