Alphawave IP and Verisilicon Expand Partnership with $54M Multi-Year Exclusive Subscription Reseller Agreement for China Market

Toronto, Ontario, CANADA — February 26, 2021 — Alphawave IP, the world leader in multi-standard connectivity IP solutions, today announced that it has negotiated a $54M multi-year exclusive subscription reseller agreement with VeriSilicon for the China market. Under the terms of the agreement, VeriSilicon will be Alphawave’s exclusive IP reseller for Alphawave’s entire IP portfolio for the entire China market.

“Success in China requires a respected and fully-scaled partner like VeriSilicon,” said Tony Pialis, President and CEO of Alphawave. “Wayne Dai and his team at VeriSilicon have established themselves as the top ASIC company in China, and we are excited to expand our relationship with VeriSilicon with this subscription agreement as we continue to grow our already-successful business in China.”

“Tony Pialis and his team have built some of the best connectivity IP in the world, and in the most advanced technologies,” said Wayne Dai, Chairman, President and CEO of VeriSilicon. “We see tremendous demand for Alphawave connectivity products across our entire tier-one customer base in China. Together, we will continue to deploy semiconductor solutions that meet the needs of our most demanding customers.”

The announcement comes after an exciting year for Alphawave, which was a record breaking year for Alphawave in every financial metric – Bookings, revenue, gross margin, and EBITDA. “The real winners here is our mutual tier-one customer base in China.” said Pialis. “They will now have access to our world-class connectivity IPs, in the most advanced process technologies but supported by a local world-class design services and ASIC company like VeriSilicon.”

About Alphawave IP Inc.

Alphawave is the world leader in multi-standard connectivity IP solutions for all of the world’s devices. Founded in Toronto, Ontario, Canada in 2017, Alphawave is one of the fastest growing and most profitable companies in the semiconductor industry. Find out more at http://www.awaveip.com

About VeriSilicon

VeriSilicon Microelectronics (Shanghai) Co., Ltd. (VeriSilicon, 688521.SH) is committed to providing customers with platform-based, all-round, one-stop custom silicon services and semiconductor IP licensing services leveraging its in-house semiconductor IP. Under the unique "Silicon Platform as a Service" (SiPaaS) business model, depending on the comprehensive IP portfolio, VeriSilicon can create silicon products from definition to test and package in a short period of time, and provides high performance and cost-efficient semiconductor alternative products for IDM, Fabless, system vendors (OEM/ODM) and large Internet companies, etc. VeriSilicon's business covers consumer electronics, automotive electronics, computer and peripheral, industry, data processing, Internet of Things and other applications. VeriSilicon presents a variety of customized silicon solutions, including high-definition video, high-definition audio and voice, In-Vehicle Infotainment, video surveillance, IoT connectivity, data center, etc. In addition, VeriSilicon has five types of in-house processor IPs, namely GPU IP, NPU IP, VPU, DSP IP and ISP IP, and more than 1,400 analog and mixed signal IPs and RF IPs. Founded in 2001 and headquartered in Shanghai, China, VeriSilicon has 6 design and R&D centers in China and the United States, as well as 11 sales and customer service offices worldwide. VeriSilicon currently has more than 1000 employees.

For more information, please visit www.verisilicon.com.