Silicon and Software Systems (S3) to invest €9 Million in R&D with support from Enterprise Ireland

March 28, 2007  --Mr. Micheál Martin T.D., Minister for Enterprise, Trade and Employment, today announced a €9m R&D investment by Irish company Silicon & Software Systems (S3) with support from Enterprise Ireland. The investment will be used for Research and Development of advanced technologies used for Set-Top Boxes, Personal Video Recorders, High Definition Television, TV on Mobile, and Silicon Chip Design. The company is also to create 20 new high-value R&D roles at their facilities in Dublin and Cork.

Making the announcement the Minister said:
"S3 is an excellent example of an Irish multi-national company developing innovative, leading-edge technology products and services for international markets. This €9m R&D investment, with the support of Enterprise Ireland, will enable S3 to continue to develop technologies that can be commercialised into next generation products and services for consumers. I am delighted today to announce the creation of 20 new high-value R&D roles at the company's Dublin and Cork locations."

"Sustained investment in innovation and R&D by Irish companies is essential in an increasingly competitive global marketplace. Knowledge intensive sectors such as silicon chip design and software development continue to present rich opportunities for innovative and R&D intensive Irish companies. These are sectors in which Irish companies can create and sustain a competitive advantage," the Minister added.

Commenting at the announcement, John O'Brien, CEO of S3 said: "S3 celebrates 21 years in business this year and we are widely regarded as the leading provider of Connected Consumer Technologies globally. This significant R&D investment enables us to further develop best-in-class solutions across our design centres in both Dublin and Cork, using the latest and most advanced technologies and helps us ensure our long term future competitiveness."

About S3

S3 is regarded as a world leader in Connected Consumer Technology solutions to enable the delivery of next generation products and services to consumers. The company is headquartered in Dublin, employs over 300 people (178 Ireland/115+ overseas) and has design centres in Dublin, Cork, Prague and Wroclaw in Poland. The CEO of the company is John O’Brien. Exports account for 99% of S3’s annual turnover. S3 recently showcased its new TV on Mobile solution, onHandTV, at this year’s 3GSM World Congress in Barcelona. See: www.s3group.com