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FOR IMMEDIATE RELEASE
OrCAD AND MICROSIM COMPLETE MERGER OrCAD Now Leads Windows EDA Segment
Beaverton, Oregon, January 20, 1998 - OrCAD® (NASDAQ:OCAD) today
announced the completion of its acquisition of MicroSim® Corporation.
OrCAD is the world's leading supplier of EDA software and services to
engineering enterprises that develop products on the Intel®/Microsoft®
platform. MicroSim is the EDA industry's leading supplier of PC-based
analog and mixed-signal simulation software.
The companies' combined revenues for the first nine months of 1997 were
$31.0 million. To date, the companies have sold a total of more than
250,000 products to a combined worldwide base of 140,000 customers. With
the merger, OrCAD moves into the number one market position in
Windows®-based EDA.
Gary Smith, chief EDA analyst with Dataquest stated, "This is the merger
of the year in Windows EDA. OrCAD and MicroSim combine significant
strengths in products and distribution. The movement to Windows NT® for
electronics design should accelerate in 1998. The 'new' OrCAD is
well-positioned to serve this expanding system-level EDA market
segment."
The purchase was accomplished with the exchange of approximately 2.4
million shares of OrCAD common stock for MicroSim shares and options.
The transaction will be accounted for as a pooling of interests.
Expenses incurred in connection with the merger will be charged against
income in the first quarter of 1998.
"This merger gives OrCAD critical mass in key strategic areas -
products, technology, and distribution," stated Mike Bosworth, OrCAD's
chairman, president, and CEO. "This critical mass gives us an edge in
our drive for leadership in the emerging market for electronics design
on the Windows NT platform." Former MicroSim chairman, president, and
CEO, Wolfram Blume, now serves as OrCAD's chief technology advisor and
will become a member of the company's board of directors. MicroSim's
former vice president of planning and product support, Michael Wimbrow,
is now OrCAD's vice president of product development.
"Wolfram has already provided great value to OrCAD's technology vision
and our product development and integration processes," said Bosworth.
"Under Mike Wimbrow's leadership, I expect the product development
organization to operate smoothly and effectively."
According to Blume, "Foremost in our product strategy is the integration
of OrCAD's design entry, PCB layout, and programmable logic/system-level
design products with the PSpice® analog and mixed-signal simulation
products. The next step will be to add more capabilities to those
integrated products. For example, we want to better equip product
development teams for the challenges of a design's physical
implementation, including high-speed effects."
OrCAD's international distribution channel has been expanded by the
addition of 20 MicroSim international resellers. The wholly-owned
Japanese subsidiaries of both companies are being merged into one
operation as OrCAD Japan, K.K., with Stuart Harrington as president of
the company. MicroSim's former headquarters in Irvine, California are
now an OrCAD product development and customer support center.
About OrCAD
Founded in 1985, OrCAD (NASDAQ:OCAD) is the world's leading supplier of
EDA software and services to engineering enterprises that develop
products on the Intel/Microsoft platform. The company's solutions
increase productivity in the design of field-programmable gate arrays
(FPGAs), complex programmable logic devices (CPLDs), and printed circuit
boards (PCBs). OrCAD serves many segments of the worldwide electronics
industry, including aerospace, telecommunications, industrial control,
military, medical equipment, and consumer products.
The company has headquarters in Beaverton, Oregon and Yokohama, Japan.
In Europe, Asia, and the rest of the world, OrCAD is represented by a
network of technical resellers. For more information, visit
www.orcad.com.
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