IP and Services to Accelerate Speedster®7t FPGA Designs

SANTA CLARA, Calif., March 2, 2021 — (PRNewswire) — Achronix Semiconductor Corporation, a leader in high-performance FPGAs and embedded FPGA (eFPGA) IP, and Mobiveil, a fast–growing technology company specializing in development of silicon intellectual property (SIP), platforms and solutions for storage, networking, AI and enterprise markets, announced today a partnership to offer Mobiveil's soft IP portfolio to designers targeting Achronix devices.

As the only independent, high-end FPGA semiconductor company that offers both high-end standalone FPGAs and eFPGA IP technology, Achronix is uniquely positioned to address the needs of high-performance applications that require programmable hardware accelerators. Demand for FPGA-based data accelerators is driven by the rapid expansion of high-growth markets, including AI, Cloud, 5G, and ADAS. Achronix's product portfolio targets the nearly $10 billion data acceleration market, which is expected to have double-digit CAGR through 2025. (Data according to Semico Research)

Achronix's data acceleration solutions provide optimal performance per watt compared to CPU- and GPU-based solutions with the additional benefits of hardware flexibility to support changing acceleration workloads. As compute performance requirements are now doubling in as little as every three to four months, the need for dedicated FPGA-based hardware accelerators is growing rapidly.

"Through our partnership with Mobiveil, we enable customers to significantly accelerate their FPGA development by offering proven interconnect solutions for storage, networking and compute applications," said Steve Mensor, VP of Sales and Marketing at Achronix. "In addition, Mobiveil design services expertise gives customers access to experts who can create customized solutions optimized for Achronix FPGAs."

Mobiveil leverages decades of experience in delivering high–quality, production–proven, high-speed serial interconnect SIP cores, and custom and standard form-factor hardware boards to leading customers worldwide. Mobiveil recently announced availability of CXL 2.0 Design IP (COMPEX) for data center applications. For the PCI Express-based flash storage market, Mobiveil developed an FPGA-based NVMe SSD platform comprised of PCI Express Gen5 Controller (GPEX), NVM Express Controller (UNEX), Universal Memory Controller (UMMC), Low Density Parity Check (LDPC) Encoder/Decoder and Flash Memory Controller (ONFI/Toggle).

"We see tremendous potential from our partnership with Achronix to accelerate product development for our mutual customers," said Ravi Thummarukudy, CEO of Mobiveil. "Mobiveil's FPGA-based applications platforms for CXL, SSD and AI applications can easily jumpstart customer's product development. Furthermore, our product engineering services comprising of FPGA design, board/system design and software development can augment customers' engineering teams in a cost-effective manner."

About Mobiveil, Inc.

Mobiveil is a fast–growing technology company that specializes in development of silicon intellectual property (SIP), platforms and solutions for networking, storage and enterprise markets. The Mobiveil team leverages decades of experience to deliver high–quality, production–proven, high-speed serial interconnect SIP cores, and custom and standard form-factor hardware boards to leading companies worldwide. Mobiveil is headquartered in Silicon Valley with engineering development centers located in Milpitas, Calif., Chennai, Bangalore and Hyderabad, India, and sales offices and representatives located in the U.S., Europe, Israel, Japan, Taiwan and the People's Republic of China.

Website: www.mobiveil.com  
LinkedIn: https://www.linkedin.com/company/2725746

About Achronix Semiconductor Corporation

Achronix Semiconductor Corporation is a fabless semiconductor corporation based in Santa Clara, California, offering high-end FPGA-based data acceleration solutions, designed to address high-performance, compute-intensive and real-time processing applications. Achronix FPGA and eFPGA IP offerings are further enhanced by ready-to-use accelerator cards targeting AI, machine learning, networking and data center applications. All Achronix products are fully supported by a complete and optimized range of Achronix software tools, which enable customers to quickly develop their own custom applications.

Achronix has a global footprint, with sales and design teams across the U.S., Europe and Asia. In January 2021, Achronix entered into a definitive merger agreement with ACE Convergence Acquisition Corp. (Nasdaq: ACEV) in a transaction that would result in Achronix being listed on Nasdaq. The transaction is expected to close in the first half of 2021.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words "intend," "future," "may," "will," "would," "will be," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. All statements, other than statements of present or historical fact included in this press release, including Achronix's strategy, products, operations, prospects and pipeline expectations, and plans and objectives of management are forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in domestic and foreign business, market, financial, political, and legal conditions and changes in the combined capital structure; the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities; risks related to the rollout of Achronix's business and the timing of expected business milestones; the effects of competition on Achronix's business; the effects of the cyclical nature of the semiconductor industry on Achronix's business; risks related to Achronix's customer concentration; the risks to Achronix's business if internal processes and information technology systems are not properly maintained; risks associated with Achronix's operational dependence on independent contractors and third parties; risks associated with Achronix's reliance on certain suppliers for, among other things, silicon wafers, and shortages or interruptions in supply of wafers and other supplies; risks and uncertainties related to Achronix's international operations, including possible restrictions on cross-border investments which could harm Achronix's financial position; and risks associated with Achronix's ability to develop new products and adapt to new markets. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of ACE's registration statement on Form S-4, filed with the SEC on February 10, 2021, as may be amended from time to time, and other documents filed or that may be filed by ACE from time to time with the SEC and available on EDGAR at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that Achronix does not presently know, or that Achronix currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements as predictions of future events, and Achronix assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.

Follow Achronix

Website:  www.achronix.com
Twitter: @AchronixInc
LinkedIn:  https://www.linkedin.com/company/57668/
Facebook:  https://www.facebook.com/achronix/
YouTube: https://www.youtube.com/user/AchronixCorp

Contact for Achronix

Bob Siller
Achronix Semiconductor Corporation
408-889-4142
bobsiller@achronix.com

Achronix and Speedster are registered trademarks, and Speedcore and Speedchip are trademarks of Achronix Semiconductor Corporation. All other brands, product names and marks are the property of their respective owners.

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