Perfisans Holdings, Inc. (OTCBB: PFNH) (”Perfisans Networks”) is a rapidly growing, fabless semiconductor company focused on developing leading edge, cost effective, system on chip (SOC) integrated circuits (IC) and delivering innovative solutions that will address the performance needs of the next generation network system. The company’s products and solutions have applications in Telecommunication, Data Communication, Storage Networks, Content Delivery Networks, Broadband Networks, and Rich Media Streaming.
Perfisans Holdings was formed in December 2003 through a reverse acquisition of Ontario-based Perfisans Networks Corporation by Griffin Industries, Inc., a Maryland-based venture capital company incorporated in 1997. The firm’s main product focus is on developing cost-effective, high performance network processing and storage chips that are installed in network interface cards (NIC) which are present in network systems such as servers, routers, personal computers, and host bus adapters, and sometimes, directly on motherboards in desktop and laptop computers.
Perfisans’ product lines of high-performance Network and Storage accelerators include TCP/IP Offload Engine (TOE) Accelerator Chips, TOE Accelerated Host Bus Adapters(HBA), and iSCSI Accelerators. Perfisans’ accelerators boost host processor efficiency, improve data throughput, reduce latency in systems, and are compatible with industry standards. Manufacturer kits containing an evaluation board and a driver development suite are available.
Perfisans’ proprietary technologies make possible significant gains in operational efficiencies for businesses and other organizations by eliminating communications bottlenecks and greatly increasing the speed of data throughput across the networks and the Internet. Perfisans’ TOE chips achieve this by offloading from the network processors the burden of processing the Internet Protocol (IP) “overhead data”, thus freeing up the IP processors to concentrate on pumping “payload data” through the networks.
Perfisans’ highly-competitive TOE chips employ leading-edge high performance hardware and software architectures capable of off-loading from the host network processor at least 80% of the IP overhead, thereby increasing network data throughput up to five times faster than existing network systems. Perfisans supplies its TOE chips to OEM manufacturers of computer motherboards, network interface cards (NICs), servers, and network storage systems used in the SOHO and entry-level enterprise markets.
Next Generation Networking Technology
According to the Company, its network and storage chips offer a powerful design advantage over the competition. Perfisans’ semiconductor Application-Specific Integrated Circuits (ASICs) employ a unique, modular, micro-engine purpose designed architecture which yields industry leading performance in a small sized chip which is inexpensive to manufacture. By contrast, the leading competitive chips typically utilize over-kill, CPU intensive architectures which result in large and costly chips.
Perfisans’ ASICs are designed to handle efficient offloading of TCP/IP processing from the CPU. The TOE technology increases the data input speed in complex network applications in video and voice-over-internet protocols (VoIP) and storage networking. According to a recent estimate by Gartner Dataquest, there could be 11 million storage ports in need of TOEs by end of 2005. The Company’s technology may have a ready market because of this if it can meet all the technical specifications.
Efficient and Cost-Effective Products
Perfisans has designed a range of Gigabit Ethernet Accelerator chips for network card manufacturers, including the ENA 1001 TOE Accelerator Chip and the ENA 1002 Single Chip dual-port Gigabit Network Interface Chip. The Company has also developed the ENA 5031 board level NIC which is available for sale for private labeling and as a fully production-ready kit. The latter gets OEMs to market quickly and avoids the costly product development program otherwise necessary. In addition, Perfisans has designed the iTA1001 chip containing a new iSCSI interface that has proven critical to emerging and increasingly popular internet protocol SANs. This latter market sector will exert continuing strong pull for Perfisans’ products.
Market Trends
The semiconductor market experienced a slowing growth in the second half of 2004 when compared to the stunning 40% growth in the first half of 2004. According to the Gartner Group, Asia-Pacific semiconductor sales showed the greatest growth in 2004 in the entire world, with revenue rising 34.6 percent over the previous year. Revenue from Europe, the Middle East, and Africa grew by 19.8 percent, outpacing growth in the Americas (16 percent) and Japan (14.6 percent).
The Gartner Group also said that worldwide semiconductor revenue is forecast to reach $257.7 billion in 2006, a 9.5 percent increase from 2005 revenue of $235.3 billion. In 2005, the market grew 7 percent. This was the first time that the semiconductor industry had surpassed the previous record-setting year in 2000 when revenue reached $223 billion.
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