Cirrus
Logic Inc. and Nu Horizons Electronics Corp. Announce Americas Distribution Agreement
Agreement
Involves Distribution of Analog, Mixed Signal and Embedded Integrated Circuits
for Audio and Industrial Applications
Austin,
TX and Melville, NY - July 5, 2005 Cirrus Logic Inc. (NASDAQ: CRUS), a premier
supplier of high-performance analog and mixed-signal integrated circuits (ICs);
and Nu Horizons Electronics Corp. (NASDAQ: NUHC), a leading distributor of advanced
technology active components; today announced that they have entered into an Americas
distribution agreement. Under the terms of this agreement, Nu Horizons will distribute
the complete line of Cirrus Logic's analog, mixed signal and embedded integrated
circuit products targeted for the audio and industrial applications markets.
Cirrus
Logic is an expert in complex chip designs, whose core strength lies in analog
and mixed signal products, with about 1,100 patents (issued and pending). Their
products support a wide variety of audio and industrial applications, including
audio/video receivers, professional and commercial audio equipment, industrial
process control, analytical instruments, digital power meters and seismic systems.
"Cirrus
Logic manufacturers a multitude of devices that complement our existing product
portfolio," said Dave Bowers, president of Nu Horizons Distribution division.
"Cirrus Logic maintains a rich heritage in digital, audio and precision analog
ICs. Distributing their products enhances Nu Horizons' ability to provide optimal
solutions for our customers."
"We
look forward to leveraging Nu Horizons' extensive network of sales, support and
logistics to enhance our reach across diverse applications and markets,"
said Bob Kromer, vice president of Worldwide Sales at Cirrus Logic. "Nu Horizons'
global infrastructure will provide world-class services and support for Cirrus
Logic customers."
About
Nu Horizons Electronics Corp.
Nu Horizons is a leading global distributor
of advanced technology active components, including analog, clock and timing devices,
communications, computer products, discretes, flat panel display solutions, interface,
logic, memory, microcontrollers and microprocessors, opto electronics and power,
to a wide variety of commercial original equipment manufacturers (OEMs). With
sales facilities in 37 locations across North America and Asia, and logistics
centers in centralized locations throughout the globe, Nu Horizons partners with
a limited number of best-in-class suppliers to provide in-depth product and solutions
expertise to its customers. Information on Nu Horizons and its services is available
at http://www.nuhorizons.com.
Cirrus
Logic Inc.
Cirrus Logic develops high-precision analog and mixed-signal
integrated circuits for a broad range of consumer and industrial markets. Building
on its diverse analog mixed-signal patent portfolio, Cirrus Logic delivers highly
optimized products for consumer and commercial audio, automotive entertainment
and industrial applications. The company operates from headquarters in Austin,
Texas, with offices in Colorado, Europe, Japan and Asia. More information about
Cirrus Logic is available at www.cirrus.com.
Except
for historical information contained herein, the matters set forth in this news
release are forward looking statements that involve certain risks and uncertainties
that could cause actual results to differ from those in the forward-looking statements.
Potential risks and uncertainties include such factors as the level of business
and consumer spending for electronic products, the amount of sales of the Company's
products, the competitive environment within the electronic component industry,
the ability of the Company to continue to expand its operations, the level of
costs incurred in connection with the Company's expansion efforts and the financial
strength of the Company's customers and suppliers. Investors are also directed
to consider other risks and uncertainties discussed in documents filed by the
Company with the Securities and Exchange Commission.
Cirrus
Logic is a trademark of Cirrus Logic Inc. All other product names noted herein
may be trademarks of their respective holders.
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