SOURCE: Mobiveil, Inc.

Mobiveil,Inc

September 10, 2014 09:00 ET

Mobiveil, Inc Signs Letter of Intent to Acquire the IP assets of Proton Digital Corporation

The Transaction Will Enable Mobiveil to Offer Proton's LDPC Based High Performance, Low Power Flash Reliability IP to Customers Worldwide

MILPITAS, CA--(Marketwired - September 10, 2014) -  Mobiveil, Inc., a fast growing supplier of silicon intellectual property (SIP), platforms and IP-enabled design services, today announced that it entered into a letter of intent with Proton Digital Systems, a technology leader in Flash Reliability solutions to license and subsequently acquire their IP assets and merge their business interests. The parties have agreed to enter into a definitive licensing and purchase agreement, the execution and closing of which is expected by the end of Q3, 2014.

"We are very pleased to announce this agreement with Proton Digital as we believe that Proton's superior LDPC based flash reliability IP can complement our existing IP portfolio for the fast growing flash SSD market," said Ravi Thummarukudy, CEO of Mobiveil. "We are excited to make this IP available to our customers worldwide as well as integrate in to our NVM Express based NVMStor SSD platform."

"Our LDPC based flash reliability IP is designed to deliver unsurpassed reliability for next generation MLC and TLC Flash used in consumer, client and enterprise applications," Dr. Andrei Vityaev, CEO of Proton Digital Systems, stated, "Our technology is optimized through advanced mathematics to achieve the smallest footprint and consume half the power of comparable solutions. This agreement enables customers worldwide to have access to this valuable technology."

Sanjay Srivastava, Chairman of Proton Digital Systems stated, "We believe that the combined portfolio offers Mobiveil an exciting opportunity to accelerate flash based SSD product development for customers worldwide."

At the conclusion of the proposed agreement, Dr. Andrei Vityaev will join Mobiveil' s Technical advisory board and will help guide the future development and deployment of this technology.

Availability
The LDPC based reliability IP is immediately available to license. Several market leaders have already selected Proton's LDPC based solution with implementations into ASIC, Structured ASIC and FPGA-based Flash controllers.

The LDPC based Flash Reliability solution will be demonstrated at the Intel Development Forum (IDF), 2014 in San Francisco, California, September 9-11. Mobiveil booth number is #176.

About Proton Digital
Proton Digital Systems provides Reliability Solutions for the NAND Flash Market. The company combines advanced technologies in the fields of mathematics, signal processing, digital design and software to deliver its cutting edge suite of System IP Products, which increase endurance and longevity of NAND Flash Memory.

About Mobiveil, Inc.
Mobiveil is a fast‐growing technology company that specializes in development of Silicon Intellectual Properties, platforms and solutions for the networking, Flash storage and Consumer markets. Mobiveil team leverages decades of experience in delivering high‐quality, production‐proven, high-speed serial interconnect Silicon IP cores and custom and standard form factor hardware boards to leading customers worldwide. Mobiveil is headquartered in the Silicon Valley with engineering development centers located in Milpitas, CA, Chennai and Bangalore, India, and sales offices and representatives located in US, Europe, Israel, Japan, Taiwan and People Republic of China. For more information, please visit http://www.mobiveil.com

Trademarks
All registered trademarks and other trademarks belong to their respective owner. There can be no assurance that the transaction contemplated in the letter of Intent will be completed as planned.

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