PixelFusion became the latest company to bail out of the graphics market, redirecting its entire corporate focus to designing network processors.
The company, located in Bristol, England, will also undergo its second management reorganization in six months.
Ilene Sterns, former vice-president of marketing who was named chief executive in February, has stepped down, and the company announced a search for her replacement. Tom Beese, Sterns' replacement as vice-president of marketing, has moved up to acting CEO.
While Peter van Cuylenburg will remain as chairman, executive board members will also include Beese and Mike Morrison, the company's acting chief financial officer. Two new non-executive directors have also been named, John Hughes and Frank Owen.
"We are very encouraged by the potential value that we can create for our shareholders through the deployment of our significant technology and human resources in network processing," van Cuylenburg said in a statement. "The changes that we have embarked on will significantly strengthen our business model for the benefit of our shareholders, employees, and partners."
PixelFusion joins NeoMagic Corp. and Nvidia Inc. (stock: NVDA), both of Santa Clara, Calif., as semiconductor firms that have either expanded or shifted direction to embrace networking.
However, PixelFusion is unique in that the company never really shipped the PixelFusion Fuzion 150, a monstrous graphics accelerator said to be predicated on parallel processing.
Besides running late with its Fuzion 150, Sterns had said the partnership with board maker Number Nine Visual Technologies Corp., Lexington, Mass., announced last August, might fall through.
Number Nine was acquired by S3 Inc. (stock: SIII), Santa Clara, which has itself shifted away from graphics into digital Internet appliances and digital media.
The Fuzion chip is a 50-million-transistor chip said to be capable of more than 1.5 teraops, or 3 gigaflops, of computing power. It includes 24 megabits of on-chip DRAM and has been designed for a 0.25-micron embedded-DRAM process at Taiwanese foundry UMC Group.
An ARC 32-bit RISC processor, designed under a license from ARC Cores Ltd., serves as a "housekeeping" controller.