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To: Tim Oliver who wrote (2739)10/6/1998 11:30:00 AM
From: Tim Oliver
   of 3624
 
I2P is PTEC's best acquisition prospect:

INTEGRATED INTELLECTUAL PROPERTY, INC. was founded in 1995 in Sunnyvale, CA, and was formerly known as Indus, Inc. The company name is also referred to as "I2P, Inc.". I2P is incorporated in the state of California. Since its founding in 1995, I2P has rapidly grown into a multi-million dollar organization providing quality IP solutions and design services throughout North America, Asia and Europe. I2P is headquartered in Santa Clara, CA, the heart of Silicon Valley.

I2P solutions and services have helped customers in the areas of microprocessor, networking, multimedia, graphics, video, and system designs. Our solutions have helped our customers to reduce design costs, to reduce number of silicon spins and to achieve faster time-to-market with their designs.

Technology Focus
I2P provides packaged intellectual property solutions for industry standard I/O interfaces and interconnect specifications. The packaged solution includes IP cores, verification tools, IP integration services and software to support the IP cores.

I2P's main products are in the areas of:

Accelerated Graphics Port (AGP)
Firewire IEEE 1394 Serial Bus (1394)
PCI Local Bus (PCI)
Universal Serial Bus (USB)
I2C Serial Bus defined by Philips
Memory Controllers (SRAM, SDRAM)
In addition, I2P has a strong design services group that provides ASIC and EDA services in the areas of microprocessors, networking, multimedia, graphics, video, and systems. I2P provides:

Engineering resources at customer sites for ASIC and EDA services. Expertise includes RTL coding, behavioral modeling, integration, design verification, testbench generation, logic synthesis, static timing analysis, scripting, environment setup, ASIC design, FPGA design, board design, new EDA tools and technologies.
Turnkey project implementation at I2P facility in the areas of RTL coding, logic synthesis, behavioral modeling, library modeling, FPGA design, board design and EDA tool benchmarking.


Customers
We have provided IP solutions and design services to more than 40 customers including workstation companies, networking companies, semiconductor companies, design houses and EDA companies. Our client base include names such as Sun Microsystems, Philips, Motorola, Hewlett Packard, Advanced Micro Devices, National Semiconductor, Mitsubishi, Intergraph and Hitachi Microsystems.


And look at these two lists:

Quickturn IP Partners:

ARM Ltd.
I2P, Inc.
Phoenix Technologies
Sand Microelectronics
SICAN Microelectronics


Award Software's 1394 IP partners:

Sand Microelectronics, San Jose, California: a provider of bus interface solutions and synthesizable cores for hardware designs.

Innovative Semiconductor, Inc., Mountain View, California: a provider of multi-media intellectual property (IP) cores and solutions.

HCL America, Inc, Sunnyvale, California: a provider of IP in the area of p1394a and Networking protocols and devices.

Integrated Intellectual Property (I2P), Santa Clara, California: a provider of reusable IP for systems-on-silicon design.




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To: Theo Karantsalis who wrote (2738)10/6/1998 3:32:00 PM
From: Marc Phelan
   of 3624
 
Theo,

I asked the fellow what BIOS they use- yes, he must think that I'm some kind of an expert- and he replied, "Phoenix." Maybe the profit will trickle down to the share price.

Yes but.... "what version of Phoenix BIOS " would have made you an expert! <grin>

Too bad you didn't place your order last week for the last quarter! We could have seen your contribution in the next earnings report.
Keep up the good work!

Marc

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To: Marc Phelan who wrote (2741)10/6/1998 5:02:00 PM
From: Marc Phelan
   of 3624
 
Very nice buying on the close....

7 buy trades after a 17,500 share block at the high of the day.

Gee..... If we could just do that every day!


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To: Daniel D. Caldwell who wrote (2724)10/6/1998 8:34:00 PM
From: Mark Brophy
   of 3624
 
What do you think of I2P?

Do they compete with Mentor and the other EDA companies and will they get squashed by the bigger players? Or, will they get squashed by the VChips-Sand combination? Or, as Tim suggests, are they a good acquisition prospect for Phoenix?

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To: Mark Brophy who wrote (2743)10/6/1998 10:44:00 PM
From: Daniel D. Caldwell
   of 3624
 
Seems like just another IP provider; the only unique piece is the I2C stuff. Everything else PTL already has and has a strong position in. We at Mentor run across them on occasion but they are not a big threat at the majors that I have seen.

PS - don't read anything in my move to Mentor as a negative on PTL; I am here because I got a chance to be close to my kids in Arizona (84 and sunny today; 120+ golf courses too....). Phoenix is still a potential big winner and I voted with my own money.

Regards - Dan

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To: Mark Brophy who wrote (2743)10/6/1998 11:18:00 PM
From: Tim Oliver
   of 3624
 
Don't believe me...follow the money and the guy that started it all for PTEC, Raj Raghavan the founder of VChips:

With the new agreement, former Phoenix Vice-President of Business Development for Phoenix's Virtual Chips Products, Raj Raghavan has joined SiCore as President and CEO. Raghavan says, "I am excited at the chance to establish a leadership position in the core integration services business. I am pleased with the excellent synthesizable core business we have built at Phoenix, and I will now focus on further enabling the core industry through related services."

ptltd.com

Note that SiCore specializes in synthesizable ASIC design.

Now look at this from early 1998 EETimes article on I2P:

Consulting firm cements its shift to IP by launching its first cores
Richard Goering

Santa Clara, Calif. - Armed with a new name and a new focus, Integrated Intellectual Property Inc. (I2P)-formerly Indus Inc.-has announced its mission as a provider of intellectual property. The company launched a family of Accelerated Graphics Port (AGP) synthesizable cores last week.

Launched as an ASIC and FPGA design services firm last year, I2P has shifted its mission to intellectual property (IP) integration, said Samir Palnitkar, chief technical officer and president. "As we were doing consulting, we found that people really needed good solutions in terms of pre-built and preverified designs," he said.

The company is already selling a PCI core, and is now entering the 3-D graphics market with its AGP cores. I2P also plans to support the IEEE 1394 Firewire serial bus with synthesizable cores.

I2P faces competition from a raft of core providers, but hopes to differentiate itself by providing a total solution. "Our focus is not the soft RTL code; it's the end product the customer is going to get out," said Palnitkar. "It's everything that it takes to get the IP into silicon."

Given the firm's background in design services, there's a strong integration services offering along with the cores, although it's not a mandatory part of the purchase. Further, there's an extensive list of deliverables that includes documentation and separately purchased simulation packages.

With the AGP cores, for instance, users get RTL source code, documentation including timing diagrams, synthesis scripts and 10 hours of free initial consulting. A simulation package provides Verilog test benches, behavioral simulation models, a stimulus translator and an AGP transaction test suite.


Both Daniel and Raj still love PTEC, but they both left PTEC. Daniel says that the future is in IP integration. Raj says the same thing by his actions. Don't believe me, believe the PTEC insiders.


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To: Tim Oliver who wrote (2745)10/7/1998 12:19:00 AM
From: Daniel D. Caldwell
   of 3624
 
OK - just one comment.... just call me Dan.....

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To: Daniel D. Caldwell who wrote (2746)10/7/1998 10:55:00 AM
From: Tim Oliver
   of 3624
 
Dan, the SiCore press release was in June. Has PTEC taken a stake in SiCore yet? I'd like to see PTEC invest in 3-4 more related IP code developers, tool & system software developers and IP integrators. I2P ( indusinc.com )got a first round of venture funding for $1 million around the beginning of 1998 and I expect that they are in play. Innovative Semiconductor ( isi96.com )worked with Award on 1394 cores and appears to be strong in multimedia cores. TRI (http://www.trinc.com )does system software development for 1394 and has a strong alliance with RTOS and embedded hardware vendors (which would complement PICO).

I don't see a lot of overlap in customer bases and I'm not so sure it makes much difference at this stage since the players are still relatively small. I'm convinced that PTEC needs to grow their soft core related business from just over 10% of their revenues currently ($16 million of $140 million) to 30-40% of their business ($45-60 million) within the next 12 months (instead of the $24 million currently projected). In order to do that, they'll have to at least double their current size in the short-term, which shouldn't cost more than $30-50 million dollars which they easily have in cash.


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To: Tim Oliver who wrote (2747)10/7/1998 11:25:00 AM
From: Mark Brophy
   of 3624
 
We don't know the profitability.

I suspect that some or all of the companies you mentioned as acquisition possibilities are currently burning cash. Phoenix is currently having too much trouble showing earnings growth, so they should only be purchasing companies that are immediately accretive to earnings.

Raghavan probably likes to build companies. Nevertheless, IP employees that are generating $213K in revenues should have their pay tied to the profitablility of their group, rather than to the Phoenix stock price.

Phoenix employees travel often, so they've located their offices near the airport. SiCore is in Campbell, which is a much nicer place to live. If SiCore has their office near Winchester Boulevard, employees can rent a place near downtown Los Gatos and skate to work along the trail. I used to skate 10 miles each day along that trail. It allowed me to stay fit enough to play 4.0 tennis and live without car expenses and traffic hassles. In the land of strip malls, that's a big deal.

Lexra's MIPS core runs on Altera FPGA at eet.com. Phoenix also has some cores running on Altera. In a year or two, designers will be able to make a prototype or even small production runs of complete single chip systems using a third party processor and Phoenix interconnect cores.

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To: Marc Phelan who wrote (2742)10/7/1998 11:42:00 AM
From: Tim Oliver
   of 3624
 
PTEC director, Larry "the finch" Finch sold 50,000 shares of PTEC at about $9.50 in August. That means the company didn't look nearly as good in August as it did in June when Jack and Bob bought at the price that Larry sold. Unless Jack and Bob buy more at 30% below where they bought in June now that AWRD and Sand are done deals, I'm out for sure at $9 and maybe before. I'll have to stick around for another month or two to find out though, unfortunately.

I think it's criminal for insiders to make money on stock options when they run the company into the ground. I'd like to see a 105% tax on Larry's gain and any other PTEC insider that gains from the poor business performance at PTEC. Options should be incentives to make businesses prosper, not a way to shaft the other stockholders.

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