LOS ANGELES, Sept. 6, 2013 /PRNewswire/ -- Forex International Trading Corp. ("Forex") (OCTQB: FXIT) today announced that it has signed an evaluation agreement with Micrologic Design Automation, Inc. ("MDA"), a leader in software development for electronic companies manufacturers, specializes in development of interactive software tools and online verification software to enhance cutting- edge next-generation development of electronic devices. MDA has signed certain evaluation agreements to promote Micrologic's technology for Integrated Circuit (IC) design with one of the industry leaders of electronic manufacturers and with Forex. Forex is contemplating investing in MDA to support Micrologic's market penetration.
"The biggest challenge today for the largest electronic manufacturers in the world is to deal with unparalleled complexity in the development of next generation, smaller electronic devices while enhancing performance. Reducing the size of any electronic device today is one of the biggest bottlenecks in the current and future development of new generation of smartphones, tablets and computers, and the manufacturers are start feeling the pain already," explained Dr. Danny Rittman, CTO at Micrologic. "One of the most important goals of Micrologic is to achieve a significant increase of speed of an Integrated Circuit (IC) design cycle."
"We are excited to have the opportunity to invest in MDA as it engages with one of the largest global semiconductor companies," said Erik Klinger, CEO of Forex International. "Our company is always on the lookout for promising technologies, and seeks to partner with those companies to help them to achieve success. It's a win-win situation in that the company has a strategic partner that they can count on, and our shareholders win through the success of that venture."
Micrologic Design Automation, Inc. is a high-tech software company that is developing interactive and online software solutions for larger electronic manufacturers development with its proprietary technology nanoToolBox™, an interactive electronic design automation tool suite. Micrologic's software tools interactively perform reliability enhancement with automatic correction to the user. Micrologic solutions reduce cost, speed time to market and improve reliability and performance of complex small nanometer designs to develop the next generation of electronic devices. Micrologic received certification from the leading electronic organization in Japan who is integrating all largest Japan world known electronic manufacturers called STARC. Micrologic is headquartered in California and operates its R&D Center in Haifa Israel.
For more information please visit www.micrologic-da.com
About Forex International Trading Corp.
Forex International Trading Corp. (OTCBB: FXIT) was incorporated in 2009 in Nevada and is headquartered in El Segundo, California. The Company's principal business activities have been to engage in foreign currency market trading for non-US resident professionals and retail clients over its web-based trading systems. While these trading operations have been closed, the Company continues to operate in the consulting segment of the foreign currency market, leveraging its contacts and knowledge, and its consulting expertise in the area of foreign exchange. In addition, the Company is analyzing investments in joint ventures and is selectively pursuing acquisitions in the areas of financial services and technology.
SOURCE Forex International Trading Corp.