Ian, I'd like to ask your opinion on this announcement while attempting to avoid hype. This company is obviously in trouble. The NASDAQ is going to de-list them. I believe a merge is their only hope.
I don't know enough about EDA companies to judge their technology. Perhaps someone has experience in this area.
It would seem to me if they actually do merge, today's story could provide an interesting opportunity. What do you think?
Thursday November 19, 1:44 pm Eastern Time
Company Press Release
Silicon Valley Research Announces Discussions of a Potential Merger
SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 19, 1998--Silicon Valley Research, Inc. (OTC BB: SVRI - news) announced today that it is in the early stages of negotiating the terms of a potential merger with an unnamed EDA company. Terms were not disclosed pending the completion of a letter of intent, which is expected to be completed in 30 days.
James O. Benouis, President and CEO of SVR, stated, ''Merging with a growing EDA company should help us to secure the future of SVR and ensure that its customers are taken care of while returning value to its shareholders.''
Founded in 1979, Silicon Valley Research, Inc. develops, markets and supports innovative IC physical design software for floorplanning, placement, routing, custom layout and parasitic extraction of deep submicron Integrated Circuits (ICs). SVR also provides design consulting services and support to its customers. The advanced technology in SVR's production-proven tools results in dense, high yielding, high performance chips. Headquartered in San Jose, California, SVR has sales offices in the United States and Asia. Information on potential factors which may affect the Company's financial results are included in the Company's Quarterly Reports on Form 10-Q and the Company's Annual Report on Form 10-K.
The preceding paragraphs include forward-looking statements. Such forward-looking statements involve risks and uncertainty, and actual results of the Company could vary materially from the forward-looking statements as a result of factors including, without limitation, liquidity and capital resources, new products and rapid technological change, dependence on certain customers and potential fluctuations in quarterly operating results and lengthy sales cycles. Further information on potential factors which may affect the Company's financial results are included in the Company's Quarterly Reports on Form 10-Q and the Company's Annual Report on Form 10-K.
For additional information, visit SVR's Web site, svri.com
Regards,
Mark |
