The companies say they will "direct increased resources for closer customer support at the device level as well as local sales and marketing cooperation." Redmond, Wash.-based Data I/O makes programming systems, and Chandler, Ariz.-based Microchip makes chips.
"This declaration of cooperation strongly positions both companies to heighten their timely and focused support for customers in the major geographies," said Data I/O's Bruce D. Rodgers. "This agreement allows our customers to further benefit from Data I/O's technical expertise and programming solutions leadership," said Mitchell R. Little of Microchip.
On Tuesday, Data I/O rose a penny to $2.54 and Microchip added a quarter to $32.33.