SANTA CLARA, Calif. -- ChipX, Inc., provider of differentiated ASIC solutions, today announced that it has appointed Robert "RAS" Sheffield to the position of Chief Financial Officer. Sheffield brings a wealth of experience to the role, and will help ensure that ChipX continues its solid path of growth and innovation.

Sheffield has more than 30 years of executive-level finance experience with both public and private companies. He has served as CFO for eight Silicon Valley companies, including Time-Warner Interactive, Faroudja, Asante Technologies, and Televideo Systems. In November 2001, Sheffield led the successful IPO of Magma Design Automation. He most recently served as the CFO of Sequence Design Inc. of Santa Clara.

"ChipX has a tremendous spirit of innovation, as well as a strong position for growth, which are the major factors behind my excitement to join the ChipX team," Sheffield said. "ChipX has the right instruments in place and the right culture to be a driving force for change and growth for the future of ASICs."

"I am pleased to welcome to ChipX a CFO with RAS' experience with both public and private companies," said Amnon Fisher, ChipX President and CEO. "His rich and varied background will be instrumental as we take the company to the next level."

Sheffield holds a bachelor's degree in finance from California State at Northridge and an MBA from the University of Utah.

For more information about ChipX broad range of ASIC solutions, please visit www.chipx.com.

About ChipX

ChipX, Inc. is a pioneer and leader in the development and manufacturing of differentiated ASIC solutions, including Structured ASIC and Embedded Array technology. The company's innovative, patented technology consolidates wafer production tooling, reduces time-to-market and minimizes the total cost to profit. ChipX products are widely used in consumer equipment, computing peripherals, communication systems, industrial control, medical equipment, instrumentation and military/aerospace systems. Headquartered in Santa Clara, CA, ChipX is a privately held corporation, founded in the U.S. in 1989. A subsidiary, ChipX (Israel) Ltd., performs Research & Development. Investors include Elron Electronic Industries, Ltd. (NASDQ:ELRN), VantagePoint Venture Partners, Wasserstein Venture Capital, Newlight Associates, Parker Price Venture Capital, UMC, Needham Capital Partners and Insite Capital.