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HP Licenses PICO Technology to Synfora

PALO ALTO, CALIF., JUNE 17, 2003

HP (NYSE:HPQ) today announced an agreement to license its Program In, Chip Out (PICO) technology for custom embedded processor design to Synfora, a new company founded to continue development and marketing of the PICO concept.

The PICO system was developed by researchers in HP Labs to help automate and optimize the time-consuming process of designing custom architectures as application engines.

"By agreeing to license PICO, HP has given Synfora a great opportunity to continue the development of the PICO system that began at HP Labs," said Vinod Kathail, formerly of HP Labs and now chief technology officer of Synfora. "Synfora is focused on making PICO technology a viable alternative to expensive and risky hand RTL coding of application engines. We look forward to the challenges of bringing our technology to market."

"The licensing of PICO aligns with HP's commitment to focused innovation and provides Synfora with a great opportunity to pursue the development of a promising technology," said John Brennan, vice president, corporate strategy and development, HP.

Synfora is funded primarily by Foundation Capital and U.S. Venture Partners. HP also is an investor in the company. Terms of the agreement were not disclosed.

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HP delivers vital technology for business and life. The company's solutions span IT infrastructure, personal computing and access devices, global services and imaging and printing for consumers, enterprises and small and medium business. For the last four quarters, HP revenue totaled $70.4 billion. More information about HP is available at http://www.hp.com.

About HP

HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.