QuickLogic Signs Agreement with Magenta to Expand Distribution Network to Turkiye and UAE
Rhea-AI Summary
QuickLogic (NASDAQ: QUIK) has announced a new distribution agreement with Magenta Technology , expanding its market presence in Turkiye and the UAE. The partnership aims to deliver QuickLogic's embedded FPGA (eFPGA) Hard IP and ruggedized FPGA solutions to key sectors including defense, aerospace, and telecommunications in these regions.
The collaboration leverages Magenta's local expertise and extensive customer base in the Middle East, with the Ankara-based company serving as a critical technologies and components supplier. Owen Bateman, QuickLogic's VP of worldwide sales, highlighted the strategic importance of reaching key target customers through Magenta's regional presence, while Magenta's Managing Partner Volkan Tunarli emphasized the value addition to their portfolio.
Positive
- Strategic expansion into high-demand defense, aerospace, and telecommunications markets in Turkiye and UAE
- Partnership with established local distributor enhances market access and customer reach
Negative
- None.
News Market Reaction
On the day this news was published, QUIK gained 0.35%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
"Partnering with Magenta allows us to bring our innovative solutions to key markets in the
Volkan Tunarli, Magenta's, Managing Partner, noted, "QuickLogic's unique FPGA and eFPGA Hard IP solutions will be invaluable in the markets we serve, and we are very much looking forward to adding these products and capabilities to our current portfolio to enhance our ability to deliver high value to our extensive customer base."
This strategic partnership positions both companies well to drive technology leadership and innovation across Turkiye and the
About Magenta
Magenta is a supplier of critical technologies and components in a wide range of countries, including Turkiye and the UAE. The company focuses on a limited number of highly demanding industries and most of its solutions are custom designed and built per the unique needs of each customer. For more information, visit magentatr.com.
About QuickLogic
QuickLogic Corporation is a fabless semiconductor company specializing in eFPGA Hard IP, discrete FPGAs, and endpoint AI solutions. QuickLogic's unique approach combines cutting-edge technology with open-source tools to deliver highly customizable, low-power solutions for industrial, aerospace, consumer, and computing markets. For more information, visit www.quicklogic.com.
QuickLogic and logo are registered trademarks of QuickLogic. All other trademarks are the property of their respective holders and should be treated as such.
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SOURCE QuickLogic Corporation
FAQ
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