FREMONT, Calif. Avanti Corp. issued a letter of apology Monday (July 30) for the "events" that led to last week's sentencing of several of its cofounders and the court-ordered $195 million restitution the company must pay to Cadence Design Systems Inc.
The brief letter does not directly acknowledge guilt or refer to the charges of source-code theft that brought about last week's conclusion of the six-year criminal case against the company.
Avanti meanwhile has scheduled a press conference for this Thursday (Aug. 2) to introduce the company's new management team, now under the direction of Paul Lo, Avanti's new president following the resignation last week of Gerald Hsu. Avanti has so far declined to comment on analyst reports that the company is losing employees and customers.
The letter, signed by Lo, states: "The Avanti Corporation apologizes to the EDA industry and especially to Cadence Design Systems for the events that led to the long-running dispute that resulted in a July 25, 2001, decision in Santa Clara County Superior Court. We regret the burdens that this highly public controversy has placed on customers, shareholders, employees, and the entire industry.
"In short, the Avanti Corporation is sorry for the events of the past. Our company now has new leadership, and our entire team of new leaders recognizes a special responsibility to undertake great efforts to maintain and improve the relationships that have been adversely affected by this controversy. We pledge to work hard to deserve the trust and support of our industry.
"We intend to honor this pledge by working with the 1,500 people of Avanti to continue developing and providing the over 40 Avanti products now used by semiconductor companies worldwide."
Cadence Design Systems was not immediately available to comment.