ParthusCeva will hire extra sales staff to target the fast-growing Asian market and adopt a marketing strategy for electronic equipment manufacturers.
The firm's new chief executive, Mr Chet Silvestri, also said yesterday that ParthusCeva's restructuring was complete, and the chip design firm would not face extra restructuring charges.
In a bullish presentation to journalists, Mr Silvestri said he thought ParthusCeva was the only firm in the world that could provide total solutions around a DSP core - the main engine for devices such as mobile phones. He said competitors would take years to develop the technology.
ParthusCeva, formed from the merger of the Irish intellectual property firm Parthus and the US-Israeli firm DSP Group, develops microchip technology that enables electronic devices to perform a range of functions.Shares in the firm have tripled in value over the past three months as concerns about its management and direction have eased with investors.
Mr Silvestri, appointed head of ParthusCeva in April, aims to boost sales in the Asian region by hiring more sales staff to match the firm's growth. Davy Stockbrokers issued a positive note on the firm's prospects following a meeting with Mr Silvestri, who flew into Ireland for the first time this week. The shares closed up 1.35 per cent at $8.99 on the Nasdaq yesterday.
