Maxim Integrated Products (PINKSHEETS: MXIM) announces that is has significantly expanded its agreement with Avnet Electronics Marketing, an operating group of Avnet, Inc., for the global distribution of Maxim's analog and mixed signal integrated circuits. Previously, Maxim used a variety of independent distributors to service a broad segment of the Company's customers. This new focused and collaborative agreement with a global distributor represents a significant change of direction in Maxim's marketing and distribution of its products. This new relationship will vastly increase exposure of Maxim's highly innovative products to a far broader set of customers. Maxim's agreement with Avnet takes effect immediately.
"This agreement signals Maxim's renewed commitment to broader customer support," explained Tunç Doluca, Maxim's President and CEO. "We are positioning Avnet to be not just a partner, but an extension of our own capabilities." Maxim's distribution partnership with Avnet will immediately be effective on a global basis. Roy Vallee, Avnet's Chairman and CEO, stated, "As our industry globalizes, the seamless support of design chain and supply chain services on a worldwide level is increasingly important to our mutual customers. The ability to engage with Maxim on a global basis provides Avnet's customers strategic flexibility."
Maxim selected Avnet for this partnership because Avnet provides a global reach, advanced supply chain capabilities and has the in-depth technical capabilities and broad sales resources to promote Maxim's products. "Maxim is embracing the distribution channel for its demand creation capabilities for the first time," said Matt Murphy, Maxim's Vice President of Worldwide Sales. "We are thrilled to be working with Avnet to improve our service and penetration into an account base where Maxim has very little presence."
Maxim will be looking to Avnet to increase demand for the Company's products. The two companies will be sharing marketing resources and conducting joint merchandising programs. "We want Avnet to sell the entire Maxim product line as a full solution," Murphy added.
Maxim will ensure that new customers understand and benefit from its leadership technologies across its many product lines. To that end, Maxim will be conducting ongoing advanced technical training for Avnet's field staff. Maxim engineers will also work in cooperation with Avnet engineers to facilitate new design creation. "This expanded relationship enables Avnet to integrate Maxim's unique product portfolio into our existing design chain services offering," stated Harley Feldberg, President of Avnet Electronics Marketing. "This will strengthen the overall services we offer to our global network of customers."
As Maxim transitions to the new partnership, Arrow Electronics will cease to be a franchised distributor of Maxim's products. "We enjoyed a 15-year relationship with Arrow and thank them for their contribution, but we feel that this new focus and program will provide the best value to our customers," said Murphy. In addition, Maxim will continue to streamline its distribution channel in an effort to simplify the purchase process for customers with the goal of providing the best customer service in the industry.
Maxim Integrated Products is a leading international supplier of quality analog and mixed-signal products for applications that require real-world signal processing.