eASIC Announces Strategic Investment by Seagate
August 5, 2013
Seagate makes equity investment in eASIC
Cupertino, CA and Santa Clara, CA – August 5, 2013 – eASIC Corporation, a provider of NEW ASIC devices today announced a strategic investment by Seagate Technology (NASDAQ:STX). In addition to the equity investment, eASIC and Seagate also are exploring opportunities to jointly develop custom silicon solutions for Seagate’s portfolio of Solid State Drives (SSD) that would combine Seagate’s expertise in SSD with eASIC’s expertise in fast time-to-market, low-cost and low-power custom silicon solutions.
As FLASH memory continues to evolve at a rapid pace from 2 bits per cell, 1xnm (MLC) to 3 bits per cell 1xnm (TLC) and the industry continues to adopt a wide variety of host interfaces such as PCI Express, NVMe and SoP (SCSI over PCI Express), Seagate and eASIC seek to deliver high-performance, low-cost and low-power SSD solutions for the consumer, enterprise and cloud computing.
\”eASIC has demonstrated innovative custom silicon technology with our industry-leading solid state hybrid drives (SSHDs)\”, said Rocky Pimentel, chief sales and marketing officer at Seagate.\”eASIC’s ability to quickly develop custom differentiated solutions while meeting stringent cost, power and performance requirements will enable us to rapidly deliver storage solutions and improve our product position in both SSD and SSHD’s.\”
\”We are extremely excited to be working with one of the world leaders in storage technology,\” said Ronnie Vasishta, President and CEO of eASIC. \”Seagate has an exceptional history in bringing world class technology and innovation to the storage market. Using our eASIC Nextreme-3 28nm single via configuration technology will help Seagate to bring storage innovation at a pace not yet seen in this industry,\” added Vasishta.
eASIC is a fabless semiconductor company offering breakthrough NEW ASIC devices aimed at dramatically reducing the overall cost and time-to-production of customized semiconductor devices. Low-cost, high-performance and fast-turn ASIC and System-on-Chip designs are enabled through patented technology utilizing Via-layer customizable routing. This innovative fabric allows eASIC to offer a new generation of ASICs with significantly lower up-front costs than traditional ASICs.
Privately held eASIC Corporation is headquartered in Santa Clara, California. Investors include Khosla Ventures, Kleiner Perkins Caufield and Byers (KPCB), Crescendo Ventures, Advanced Equities Incorporated and Evergreen Partners. For more information on eASIC please visit www.easic.com.
Forward Looking Statements
This press release contains forward-looking statements, including, without limitation, statements related to eASIC’s future sales and distribution of its NEW ASIC devices. Works such as \”expects\” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon eASIC’s current expectations. Forward-looking statements involve risks and uncertainties. The company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, economic conditions, customer business environment and inventory levels, government and technological factors outside of our control, adoption and roll-out of products, risks related to ability to capitalize on growth opportunities and markets, risks related to our ability to manage our growth and other risks that may cause our business, industry, strategy or actual results to differ materially from the forward-looking statements. eASIC expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.