Cupertino, Calif.--Aug. 21, 1997--Ikos Systems Inc. (Cupertino, Calif.) and Zycad Corp. announced the completion of an agreement that calls for Ikos to purchase Zycad's fault acceleration technology.
A $2 million cash payment will be made to Zycad in Ikos' fourth fiscal quarter, ending Sept. 27, 1997, with an additional $1 million to be paid by June 30, 1998. Ikos expects to write off the full amount of the agreement in its fourth fiscal quarter.
In addition to the purchase of Zycad's remaining fault and logic hardware design verification technology, Ikos has hired Makoto Yamada, president of the Zycad KK. Serving in the capacity of president of Ikos KK, Yamada will immediately begin execution of the company's strategic business plan, focusing on enhancing the Ikos direct and distributor sales channels in Japan.
This agreement follows Ikos' purchase of the Zycad Lightspeed accelerated logic simulation technology in April of this year.
Both companies are committed to a smooth transition plan that should allow customers to complete critical design stages. Zycad will continue to support its customers
Zycad will continue making hardware shipments to existing customers to allow them the system capacity to complete their current and planned design projects through September 30, 1997, after which time Zycad will no longer offer any specialized hardware other than in a support capacity.
19050 Pruneridge Ave.
Cupertino, CA 95014
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