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NeoMagic Corporation Updates Investors on New Product Development and Current Operations

Our pals at NeoMagic are moving forward

NeoMagic Corporation (NMGC.PK), a pioneer of embedded memory and logic technology, announced today that the Company is ready to demonstrate MagicVaultTM, its USB 3.0 based UFD USB Flash Drive Controller solution on an FPGA platform.

San Jose, California (PRWEB) February 27, 2012

NeoMagic Corporation (NMGC.PK), a pioneer of embedded memory and logic technology, announced today that the Company is ready to demonstrate MagicVaultTM, its USB 3.0 based UFD USB Flash Drive Controller solution on an FPGA platform. NeoMagic is also updating investors on current operations and the Company’s efforts to obtain additional funding to accelerate its growth.
FPGA platform test results for the MagicVault flash drive solution indicate a significant performance improvement over currently available products. In addition to testing, NeoMagic is discussing MagicVault and other new products in development with potential strategic partners and investors.

NeoMagic’s design win with ViV Systems to develop an M-Book controller for their karaoke systems has made significant progress. Tho Pham, CEO of ViV Systems, said: “We are very pleased with the support received from NeoMagic’s team in the development of our M-Book Karaoke controller which is based on the MiMagic6+ SOC with 7” high resolution touch screen support. We are looking forward to bringing this product to market in the second quarter of this year. The M-Book will greatly enhance the user experience for our karaoke systems.”

NeoMagic is continuing its efforts to find other customers for MiMagic6+ which is a SOC/Micro-controller at very competitive pricing for embedded applications. NeoMagic continues to ship its MiMagic 3 product to its Asia Pacific customer.

In the upcoming months, NeoMagic and Proactive Investors will be hosting a meeting for investors in New York City. The Company will provide specific details on the meeting as they emerge. For more information on the date, time and location of this event, please visit NeoMagic’s Proactive page at http://www.proactiveinvestors.com/sponsors/4162/neomagic-4162.html