Platform-based design is a proven method for minimizing the time and risks involved in designing and verifying a system-on-chip (SoC). Our experiences in using Mentor Graphics’ Platform Express (PX) tool to design an SoC platform will be described in this paper. We have successfully added an open IP core to the PX component library and have used it in our system design. This paper discusses integrating IP components to build a baseline platform for future, derivative SoC designs as well as verification for correctness using ModelSim. The complete IP integration and system design flow is outlined along with a workaround for designs involving IPs specified using both, VHDL and Verilog. Pointers are also provided as recommendations for users.