For Release: November 12, 2002
Altera and Pioneer-Standard Electronics Sign North American Distribution Agreement
Second North American Distributor Extends Altera's Reach to Meet Increasing Customer Demand For New Products
San Jose, Calif. and Cleveland, Ohio, November 12, 2002—In response to the broad acceptance of the Stratix™ and Cyclone™ device families and corresponding expansion of its customer base, Altera Corporation (NASDAQ: ALTR) today announced a North American distribution agreement with Pioneer-Standard Electronics, Inc., (NASDAQ: PIOS) effective January 1, 2003. Pioneer-Standard will bring additional technical support and distribution to a wider base of customers throughout North America, positioning Altera's system-on-a-programmable-chip (SOPC) solutions for growth and diversification in the industrial, consumer, and computer markets. The partnership complements Altera's long-standing relationship with Arrow Electronics Inc.
"This partnership presents a valuable opportunity for Pioneer-Standard to further the adoption of Altera's devices, especially at a time when the economics of chip design are favoring programmable logic," said Pioneer-Standard's president and CEO Arthur Rhein. "This is great news for Pioneer-Standard," Rhein added. "Altera's new, powerful product portfolio expands our product line. We are confident in our ability to help customers incorporate the new product technologies that will improve their profitability while expanding Altera's market presence."
With Stratix device family members shipping to customers since May, and Cyclone and Stratix GX devices to begin shipping in the first quarter of 2003, Altera is experiencing a significant increase in the number of customer engagements. Sales of new products, which increased 18 percent in the third quarter, already make up 30 percent of Altera's revenues.
"With the overwhelming interest in our Stratix and Cyclone device families, Altera is broadening its distribution channel with a second, proven 'technical support value-added' partner," said George Papa, Altera's senior vice president of global sales. "Pioneer-Standard will complement our current North America business strategy and allow our channel to give a broad customer base the required in-depth technical expertise in support of both the new Stratix and Cyclone device families."
About Pioneer-Standard Electronics, Inc.
Pioneer-Standard Electronics, Inc. is a broad-line distributor of electronic components and mid-range computer products. The company reported revenues of $2.3 billion for the fiscal year ended March 31, 2002, which were nearly evenly split between the Industrial Electronics Division and the Computer Systems Division. A Fortune 1000 company headquartered in Cleveland, Ohio, Pioneer-Standard also serves international customers in Europe and Asia through its strategic partners: Taiwan-based World Peace Industrial Co. Ltd.; U.K.-based Eurodis Electron PLC; and Germany-based Magirus AG. Additional information about Pioneer-Standard can be found at www.pioneerstandard.com.
About Altera
Altera Corporation (NASDAQ: ALTR) is the world's pioneer in system-on-a-programmable-chip (SOPC) solutions. Combining programmable logic technology with software tools, intellectual property, and technical services, Altera provides high-value programmable solutions to approximately 14,000 customers worldwide. More information is available at www.altera.com.
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