Product category: Design and Development Software
News Release from: Ansoft Europe
Edited by the Electronicstalk Editorial Team on 17 September 2002
Ansoft closes Irvine Technology Centre
Ansoft Corp has refocused operations on its core software business
Ansoft will discontinue its efforts to apply its IP technology core to hardware design through Altra Broadband's Irvine Technology Centre. The Irvine Technology Centre will close operations effective September 2002. In February 2002, Altra embarked on a marketing campaign targeted at establishing its dense subcarrier multiplexing (xDSM) technology within the broadband communications marketplace.
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During this campaign, Altra worked closely with key potential customers and complementary suppliers.
In spite of technical successes, profitable deployment of Altra's IP in this telecomms environment was deemed unlikely in the near term.
Along with its plans to exit its hardware IP efforts, Ansoft has streamlined operations, resulting in a reduction of its workforce.
These actions will reduce Ansoft's quarterly expenses by approximately $800,000, enabling the company to target a third fiscal quarter operating income revenue break-even point of $12.4 million (excluding amortisation).
"We believe our fundamental growth opportunities remain strong", said Nicholas Csendes, Ansoft's President and Chief Executive Officer.
"However, these decisions, which were driven by changing industry dynamics, were critical to accelerating Ansoft's return to profitability".
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