TUALATIN, Ore., Sept. 20, 2012 /PRNewswire/ -- CUI Inc, a subsidiary of CUI Global, Inc. (NASDAQ: CUI), has entered into a license agreement with Ericsson, the world's leading provider of technology and services to telecom operators, for their digital Advanced Bus Converter (ABC) family which provide unprecedented performance to system architects developing equipment for ICT (Information and Communication Technology) market. The license agreement will enable original equipment makers (OEMs) to address interoperability challenges, reduce time to market, and decrease supply chain risk for these leading-edge digital products.
Along with the formal license agreement, CUI and Ericsson announced an expansion of their multi-source power platform cooperation to include a common standard for digital intermediate bus converters on their respective product roadmaps moving forward. This expansion adds to the existing initiative between the two companies to develop and market multi-source, digital Point-of-Load power solutions that are based on the Ericsson footprints and designs.
"We are excited to add Ericsson's Advanced Bus Converter portfolio to our Novum® product line," stated William J. Clough, President and CEO of CUI Global. "This expansion is the next logical step in our relationship with Ericsson Power.""Our expanded relationship with Ericsson for our Novum® products, much like our partnership with GL Noble-Denton for our Vergence® product, further strengthens and validates our strategy of partnering with industry leaders to enhance our visibility, broaden our customer base, and increase shareholder value," Clough concluded. About CUI Global, Inc. Delivering Innovative Technologies for an Interconnected World . . . . . CUI Global is a publicly traded platform company dedicated to maximizing shareholder value through the acquisition and development of innovative companies and technologies. From its Vergence GasPT2 platform targeting the energy sector, to its subsidiary CUI Inc.'s industry leading digital power platform targeting the networking and telecom industries, CUI Global has built a diversified portfolio of industry leading technologies that touch many markets. As a publicly traded company, shareholders are able to participate in the opportunities, revenues, and profits generated by the products, technologies, and market channels of CUI Global and its subsidiaries. CUI Global prides itself on operating with the same level of integrity, respect, and philanthropic dedication that was put in place by CUI Inc.'s founder more than 20 years ago. It is these values that allow the company to make a difference in the lives of their customers, their community, their employees, and their investors. Recently, a move was made to merge and streamline resources with its subsidiary CUI Inc. in order to create a unified, international brand that now positions CUI Global for further strategic expansion.