Marvell
and Nu Horizons Electronics Announce Distribution Agreement
Sunnyvale,
CA. (February 20, 2001) – Marvell (NASDAQ: MRVL),
a technology leader in the development of extreme broadband
communications solutions, and Nu Horizons Electronics
(NASDAQ: NUHC) today announced that they have signed an
agreement under which Nu Horizons will distribute Marvell’s
industry-leading communications ICs throughout North America.
This
agreement extends the one-year-old relationship between
Galileo and Nu Horizons to include support for Marvell’s
single, dual and quad-port Alaska™ family of Gigabit
Ethernet over copper transceivers, its Fast Ethernet products
and its 5-port 10/100 Ethernet Switch, in addition to
the Company’s Galileo switching and internetworking
product lines.
“Marvell
is pleased to add our products to Nu Horizons’ distribution
responsibilities to support our customers’ requirements
for end-to-end communications solutions,” stated
George Papa, Marvell’s Vice President of Worldwide
Sales for the Communications Business Group. “With
the combination of Marvell’s industry-leading products
and Nu Horizons’ technical and sales support and
myriad of rapidly emerging accounts, we expect to continue
to have a strong impact in the ever-expanding networking
market.”
“With
the exploding Gigabit Ethernet market, we are excited
about our new relationship with Marvell,” said David
Bowers, Nu Horizons’ Senior Vice President of Marketing.
“We believe that with Marvell’s Alaska™
family of Gigabit transceivers and their Galileo switching
and internetworking products, we will provide the best
IC solutions available on the market today for both physical
layer and switching products.”
About
Marvell
Marvell, a technology leader in the development of extreme
broadband communications solutions, comprises Marvell
Technology Group Ltd. (MTGL) and its subsidiaries, Marvell
Semiconductor Inc. (MSI), Marvell Asia Pte Ltd. (MAPL),
Marvell Japan K.K. (MJKK), and Galileo Technology Ltd.
(GTL). On behalf of MTGL, MSI designs, develops and markets
integrated circuits utilizing proprietary Communications
Mixed-Signal Processing (CMSP) and digital signal processing
technologies for communications signal processing markets.
MAPL is headquartered in Singapore and is responsible
for Marvell's production and distribution operations.
GTL develops high-performance communications Internetworking
and Switching products for the broadband communications
market. As used in this release, the terms "Company"
and "Marvell" refer to the entire group of companies.
The Company applies its technology to the extreme broadband
communications market where its products are used in network
access equipment to provide the interface between communications
systems and data transmission media. MSI is headquartered
at 645 Almanor Ave., Sunnyvale, Calif., 94085; phone:
(408) 222-2500, fax: (408) 328-0120.
Safe
Harbor Statement of Marvell under the Private Securities
Litigation Reform Act of 1995:
This release may contain forward-looking statements based
on our current expectations, estimates and projections
about our products, our industry, our markets, management's
beliefs, and certain assumptions made by us. Words such
as "anticipates," "expects," "intends,"
"plans," "believes," "seeks,"
"estimates," "may," "will,"
"should," and variations of these words or similar
expressions, are intended to identify forward-looking
statements. In addition, any statements that refer to
expectations, projections or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking statements. These statements
are not guarantees of future performance and are subject
to certain risks, uncertainties and assumptions that are
difficult to predict. Therefore, market results may differ
materially and adversely from those expressed in any forward-looking
statements in this release.
Important
risks, uncertainties and assumptions that may cause such
a difference for Marvell in connection with its relationship
with Nu Horizons Electronics and the Company’s ability
to impact the networking market through sale of its physical
layer and switching solutions include, but are not limited
to, the timing, cost and successful completion of technology
and product development through volume production; the
rate at which our present and future customers and end-users
adopt this product; the ability of Nu Horizons Electronics
to perform its obligations and responsibilities under
the distribution agreement; and the timing, pricing, rescheduling,
or cancellation of significant customer orders for products.
For
other factors that could cause the Company's results to
vary from expectations, please see the 'Risk Factors'
section of Marvell's Registration Statement on Form S-4
relating to the Company's merger and the Company's Quarterly
Report on Form 10-Q for the quarter ended October 31,
2000.
We
undertake no obligation to revise or update publicly any
forward-looking statements for any reason.
About
Nu Horizons Electronics
Nu Horizons is a specialized distributor of high technology
electronic components headquartered in Melville, New York.
The company, with 29 locations throughout North America,
partners with a limited number of best-in-class suppliers
to provide in-depth product and solutions expertise to
its customers. Nu Horizons differentiates itself from
other component distributors through its focus on the
rapidly growing Communications market with high technology
products and services, technically competent sales and
marketing staff plus an industry leading engineering organization.
Nu Horizons was established in 1982 and is publicly traded
on the NASDAQ National Market System under the symbol
NUHC. |
