LucidLogix Ltd. has signed a cooperation agreement with Taiwan's AsusTek Computer Inc. (TWSE: 2357; LSE: ASKD) to integrate its Virtu MVP graphics software in Asus's new motherboards with Intel Ivy Bridge processors. LucidLogix's revenue from the deal is estimated at $3 million.
Ivy Bridge processors use the main processor to process graphics, while LucidLogix's software works with the processor's resources and the embedded graphics card to improve computer performance. The software can simultaneously use the computer's processor to run heavy graphics applications, such as games and movie conversions from one format to another.
LucidLogix's software is designed for PCs, and a laptop version is due out soon, with versions for smartphone and tablets due toward the end of the year. The software is currently embedded in 60 different motherboards.
LucidLogix president and VP business development Offir Remez and CSO Dr. Reuven Bakalash founded the company in 2005. Its CEO is Moshe Steiner, who previously served as VP and co-general manager of Marvell Israel Ltd., which acquired Galileo Technology, and COO of Oplus Technologies Ltd. prior to its acquisition by Intel Corporation (Nasdaq: INTC). LucidLogix has 30 employees, and has raised $40 million from Israeli funds Giza Venture Capital and Genesis Partners, and US fund Rho Ventures.
Published by Globes [online], Israel business news - www.globes-online.com - on May 21, 2012
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