Adam Spice Joins Symwave as Chief Financial Officer
11.17.2009

ADAM SPICE JOINS SYMWAVE AS CHIEF FINANCIAL OFFICER
Semiconductor Industry's Most Proven M&A Finance Executive will Facilitate Company's Growth and Scalability

LAGUNA NIGUEL, Calif., November 17, 2009 - Symwave, Inc., a leading silicon supplier of system solutions for SuperSpeed USB devices, today announced the addition of Adam Spice as the company's Chief Financial Officer. Over the past nine years, Mr. Spice led the financial execution of over 40 acquisitions and strategic equity investments totaling over $6 billion while at Broadcom (NASDAQ: BRCM). Most recently, as Broadcom's Vice President of Finance and Corporate Development, he managed the company's corporate finance operations related to its business units, operations, SG&A, corporate development, and strategic planning for over $4 billion of annual revenue and 7,500 employees. Previously, Mr. Spice served as Broadcom's Corporate Treasurer and held operational finance management and corporate development roles at Intel Corporation (NASDAQ: INTC).

Symwave, a recognized leader in USB 3.0, has attracted an outstanding team of top-tier industry executives, strong funding and a world-class engineering group. The company is moving into high volume production with its USB 3.0 Storage Controller and is now poised to expand its product portfolio and customer base. Market researcher IDC predicts that USB 3.0 will become the world's most pervasive connectivity technology, growing to over 500,000,000 ports in 2012.

"Adam joining our team is another huge win for Symwave," said Yossi Cohen, President and CEO of Symwave. "Several of our executive staff members worked closely with Adam during our many years at Broadcom and collectively respect his ability to add value to our company and integrate well into our team. The next few quarters are crucial as we ramp into high volume production and scale our company on all fronts. Adam will drive internal and external finance infrastructure, processes and our strategic initiatives to ‘get bigger faster'."

"In prior roles at Broadcom and Intel, I evaluated hundreds of companies for the purposes of investments and acquisition and I believe Symwave truly represents a rare combination. The company not only has an aggressive team of proven entrepreneurs who have created and scaled multi-hundred million dollar lines of business, but it is at the forefront of pursuing a huge market opportunity, and is supported by top-tier committed strategic investors," said Adam Spice. "I am excited and fortunate to join this team and look forward to achieving great success together again. Over the coming years, USB 3.0 will become a multi-billion unit market and can serve as a great technology and revenue growth platform for Symwave."

About Symwave, Inc.
Symwave is a global fabless semiconductor company developing connectivity SoCs (Systemson-Chip) and software solutions that enable PCs and other consumer electronic devices to realize the benefits of SuperSpeed USB 3.0. The USB 3.0 standard improves device power management, transfers data tenfold faster and maintains backwards compatibility with the billions of USB ports shipped to date. Symwave's high-performance analog/mixed-signal products leverage the company's proprietary technology, IP and silicon design capabilities to bring the benefits of uncompromised speed in low-cost standard CMOS processes. The company is privately held with headquarters in Orange County, Calif., and design centers in Shenzhen, China, and San Diego, Calif. Symwave is backed by top-tier venture capital firms including Kodiak Venture Partners and CMEA Ventures and a recent investment by SMSC (NASDAQ: SMSC). Additional information is available at http://www.symwave.com/.

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Symwave Company Contact:                                                   Symwave Media Contact:
John O'Neill                                                                            Lauri Julian
949-922-8658                                                                         949-715-3049
john.oneill@symwave.com                                                      l.julian@mediaconnectpr.com

 

http://www.symwave.com/documents/AdamSpice_FINAL_11.17.09.pdf