Agility DS victim of credit crunch

Venice, Florida — Agility DS has become a victim of the serious financial situation enveloping the banking and investment industries, proving that the EDA industry is not shielded from the worsening financial environment. It will cease its operations in the very near future, as it was unable to either renegotiate its line of credit or obtain further capital investments. Agility's products have been successful in the market, and the company has an impressive list of high profile customers, both in the USA, Europe, and Asia that has attracted the interest of potential buyers.

Agility is in the final negotiations stage to sell its C Solutions products to a leading EDA company that has a considerable presence in the ESL market. Dave Burow, President and CEO of Agility DS has asked that the name of the buyer not be made public at this time, due to the sensitivity of the negotiations which are expected to be concluded by January 26th. This product line is not part of the final auction described below.

The MATLAB Solutions product line together with all other assets of the company will be sold at auction. CMA, of San Leandro, California is the auctioneer. It is soliciting competing offers for a bulk sale of the assets remaining from the operations. The assets include furniture, fixtures, computer equipment, software, installed customer database, customer prospect lists and intellectual property of the afore mentioned MATLAB to C code family of products. The auction will take place on January 28. CMA has already received a bid of $250,000. All overbids must be accompanied by a good-faith deposit of no less than $12,500, which is subject to forfeiture if bidder fails to close within seven (7) days of confirmation as the successful bidder. Minimum overbid: $275,000.

For more information regarding the auction process or to submit a bid contact Chuck Brooks at (510) 346-6000.