Silvaco Announces Expected Addition to Three US Russell Indexes
SANTA CLARA, Calif., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Silvaco Group, Inc. (Nasdaq: SVCO, “Silvaco” or the “Company”), a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation, announced today that it will be added to the Russell 2000®, Russell 3000® and the Russell Microcap® indexes as part of the Russell indexes' planned third quarter IPO additions. Silvaco is scheduled to be added to these indexes effective Monday, September 23, 2024.
“Silvaco’s inclusion in these widely tracked Russell indexes represents another important milestone for our company,” said Babak Taheri, Silvaco’s Chief Executive Officer. “We look forward to the increased visibility this inclusion brings, which will enable us to broaden our shareholder base by reaching a wider range of passive and active investors, including ETFs and other institutional funds,” added Dr. Taheri.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. According to data as of the end of December 2023, approximately $10.5 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, a prominent global index provider.
About Silvaco
Silvaco is a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation. Silvaco’s solutions are used for semiconductor and photonics processes, devices, and systems development across display, power devices, automotive, memory, high performance compute, foundries, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Brazil, China, Japan, Korea, Singapore, and Taiwan.
About FTSE Russell
FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise view of the market relevant to their investment process. A comprehensive range of reliable and accurate indexes provides investors worldwide with the tools they require to measure and benchmark markets across asset classes, styles, or strategies.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives.
FTSE Russell is focused on applying the highest industry standards in index design and governance, employing transparent rules-based methodology informed by independent committees of leading market participants. FTSE Russell fully embraces the IOSCO Principles, and its Statement of Compliance has received independent assurance. Index innovation is driven by client needs and customer partnerships, allowing FTSE Russell to continually enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit FTSE Russell.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended, that are intended to be covered by the "safe harbor" provisions of those sections. These forward-looking statements include, but are not limited to, statements regarding the Company's expectations, beliefs, intentions, plans, or strategies, including statements about the anticipated inclusion of the Company in the Russell 2000®, Russell 3000®, and Russell Microcap® indexes; the expected effective date of this inclusion; potential benefits of such inclusion to the Company, its visibility, and its ability to attract a broader range of passive and active investors, including ETFs and institutional funds; and other statements that are not historical facts.
Forward-looking statements typically are identified by the use of words such as "anticipate," "expect," "plan," "intend," "believe," "estimate," "potential," "continue," "could," "would," "might," "seek," and similar expressions, although not all forward-looking statements contain these words. These statements are based on the Company's current expectations and assumptions and are subject to risks, uncertainties, and other factors, including changes in market conditions or changes in the Company's strategies or business plans, which may cause actual results to differ materially from those expressed or implied by these forward-looking statements.
Factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include, among others, the Company's ability to achieve the anticipated benefits of its inclusion in the Russell indexes, fluctuations in the market price of the Company's stock, and other risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, including its most recent Quarterly Report on Form 10-Q and its other filings from time to time. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Investor Contact:
Greg McNiff
investors@silvaco.com
Media Contact:
Tyler Weiland
press@silvaco.com
