Vicor Corporation Announces Global Distribution Agreement with Avnet
Vicor Corporation (NASDAQ: VICR) has announced a distribution agreement with Avnet (NASDAQ: AVT), a leading global distributor of electronic components.
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Rhea-AI Summary
Vicor Corporation (NASDAQ: VICR) has announced a distribution agreement with Avnet (NASDAQ: AVT), a leading global distributor of electronic components. This partnership aims to enhance access to Vicor’s power modules, leveraging Avnet's design and supply chain capabilities. Effective immediately, the agreement targets customers in the EMEA region, facilitating innovation with high-performance modular power solutions. Vicor’s VP, David Krakauer, emphasizes that this collaboration aligns with their strategic goals to deliver differentiated solutions to customers in various markets, including industrial and automotive sectors.
Positive
- Distribution agreement with Avnet expands access to Vicor's power modules.
- Targets customers in the EMEA region, enhancing market reach.
- Partnership aligns with Vicor's strategic goals to innovate in power solutions.
Negative
- None.
Details
News Market Reaction – VICR
The recorded move for VICR in the trading session of this news was -0.18%.
Data tracked by StockTitan Argus. Session date unavailable.
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ANDOVER, Mass., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Vicor Corporation (NASDAQ: VICR) today announced its distribution agreement with Avnet (NASDAQ: AVT), a global distributor of electronic components and services.
The agreement expands access to Vicor’s power modules through Avnet’s world-class design and supply chain, enabling global customers to achieve world-changing innovation with higher system performance and greater scalability.
“This is a great opportunity for Vicor to partner with a global leader aligned with Vicor’s target markets,” said David Krakauer, VP Industrial Business Unit and Corporate Marketing. “Working with Avnet will better position Vicor to bring our highly differentiated modular power solutions to customers who wish to unleash the power of their own innovations.”
“In today’s markets, businesses need to innovate to stay ahead of the competition,” said Peggy Carrieres Global Vice President Supplier Development for Avnet. “This agreement comes at a time when many of our customers are looking for opportunities to separate themselves from the pack. They are struggling to fit more power in increasingly smaller spaces, and they are searching for power-dense and highly efficient solutions. Vicor power modules will deliver a quality solution for our customers.”
The global franchise agreement is effective immediately. Customers in the EMEA region (Europe, Middle East & Africa) will have access to the Vicor product portfolio via Avnet’s European business unit, Avnet Abacus, one of the leading interconnect, passive, electro-mechanical and power distributors.
About Vicor Corporation
Vicor is the leader in high-performance power modules, enabling customer innovation with easy-to-deploy modular power system solutions for power delivery networks that provide the highest density and efficiency from source to point-of-load. We continuously advance the density, efficiency and power delivery capabilities of our power modules by staying on the forefront of distribution architectures, conversion topologies and packaging technology. Vicor serves customers in high-performance computing, industrial equipment, automotive and aerospace and defense markets.
Vicor is a registered trademark of Vicor Corporation.
About Avnet
As a leading global technology distributor and solutions provider, Avnet has served customers’ evolving needs for an entire century. We support customers at each stage of a product’s lifecycle, from idea to design and from prototype to production. Our unique position at the center of the technology value chain enables us to accelerate the design and supply stages of product development so customers can realize revenue faster. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at avnet.com.
Media contacts:
Vicor
Steve Germino
Vicor Corporation
978 749-8243
sgermino@vicr.com
Avnet
Jeanne Forbis
480-643-7499
Jeanne.forbis@avnet.com
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