PRESS RELEASE

 

MAGMA DESIGN AUTOMATION SELECTS PROCESSION'S REVENUE PLANNING EDITION

Procession's Sales Forecasting Solution Chosen for Magma's Worldwide Sales Operation

CHESHAM, England. August 10th, 2001 - Procession today announced that Silicon Valley-based Magma Design Automation has chosen the Procession Revenue Planning Edition to handle all the essential forecasting functions for its worldwide operations. Magma provides advanced electronic design automation software solutions that enable leading semiconductor and system companies to increase the performance and reduce the development cycle of integrated circuits. Procession was able to meet Magma's exacting requirements within the short timescale specified.

"Our typical deals are high-value with complex structures, and involve most of our sales and management team," said Roy Jewell, president and chief operating officer of Magma Design Automation. "With the Revenue Planning Edition, Procession was able to provide a solution that could handle this easily, tracking the large amount of information involved with each deal. We are confident that we now have an effective system in place to help control our costs and manage the pipeline."

The system, which was up and running in less than seven days, is fully Web-enabled, meeting Magma's need for full mobile access, instantly and from any location. "The instant notification was very important to us, helping us to allocate engineers and other resources to our customers efficiently," Jewell said.

"The Revenue Planning Edition is a good example of Procession's solutions at their best," said Paul Greenfield, chief executive officer, Procession. "The system was easily integrated into Magma's infrastructure, without disrupting its existing systems, and was easily customized to incorporate Magma's own forms and methodology."

About Magma Design Systems
Magma Design Automation provides design and implementation software that enables chip designers to shorten the time-to-market for complex integrated circuits used in the communications, computing, consumer electronics, networking and semiconductor industries. Its products, Blast Fusion™ and Blast Chip™, utilize a new methodology for the design of complex multi-million gate chips by combining traditionally separate front-end and back-end design processes into an integrated design flow. This integrated solution reduces timing closure iterations, which accelerates time-to-market for its customers.

Headquartered in Cupertino, Calif., the company maintains sales and support offices in Silicon Valley, Austin, Boston, Germany, Israel, Japan, Korea, Taiwan and the United Kingdom. Corporate headquarters are at 2 Results Way, Cupertino, Calif., 95014. Visit Magma Design Automation on the web at www.magma-da.com.

About Procession
Procession develops and markets process-driven software that enables customers to automate key business methods, reducing costs and improving performance across the enterprise. Procession's easy-to-implement, highly scalable solutions are based on open standard technologies and Internet architecture, providing key personnel with critical business information whenever and wherever they need it. The Editions range delivers solutions tailored for particular functions within an organisation, such as revenue forecasting. Procession's customers include leaders in finance, high technology software and government agencies.

Headquartered in Chesham, United Kingdom, the company is currently expanding its operations to support the global marketplace. More information can be found at www.procession.com.

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