Magma to develop Rs 30-crore R&D centre
BANGALORE:The US-based Magma is co-founded by Rajeev Madhavan, who created blue chip companies like Ambit Design and LogicVision. The six-year-old Magma competes with Synposis and Cadence, giants in the EDA space. Integrated circuit (IC) makers need EDA software to assist them design and make complex electronic designs.
With IC design becoming increasingly complex, EDA tool vendors like Magma are seeing significant growth.
Magma India will begin with a headcount of 40 and grow this to 60 by 2004. Over Rs 30 crore is being invested in the R&D centre. Magmas EDA tools are increasingly being preferred as they speed up complicated IC design process, enabling customers to quickly launch new products said Mr Anand Anandkumar, managing director, Magma India.
Besides talent and low operating cost, India offers considerable opportunity to EDA tool vendors with the increase in the number of IC design houses. The Indian EDA market is estimated to be around $40 million said Lung Chu, corporate vice president, Asia Pacific operations at Magma.
The product specialist team at Magma will address specific domains of complex nanometer IC design he said adding that having a local presence in India will help provide considerable value to customers.