TUALATIN, Ore., Jan. 19, 2016 /PRNewswire/ -- CUI Global, Inc. (NASDAQ:CUI) announced today that its wholly-owned subsidiary, CUI Inc, has entered into a limited exclusivity agreement for hardware development with Virtual Power Systems (VPS), a cutting edge Software Defined Power® company. The companies will partner to set a new standard for an efficient power infrastructure for data centers.
With this agreement, CUI will exclusively design, manufacture, and sell the ICE Block hardware component of the ICE (Intelligent Control of Energy) system that realizes the full value of the VPS solution. The ICE Block hardware is managed and controlled through the ICE Platform, a tightly integrated suite of software developed by VPS. The ICE Block will enable data center operators to double power and server utilization, reduce costs, and greatly improve availability. This partnership between the two organizations is the first step in creating a larger Software Defined Power ecosystem, from board level to system level, ultimately creating a more intelligent, more efficient data center infrastructure.
"We continue to look for partners that add value to the entire power ecosystem," said Matt McKenzie, President of CUI Inc. "This partnership is the first that is outside of the power supply itself and adds significant value to our entire power infrastructure portfolio, from board to rack level."
A fully integrated data center can see a 15-25% reduction in power cost, with a capex at 40-60% of a traditional investment with the combined ICE system. In addition, this new infrastructure will enable data centers to continue their aggressive growth paths via a solution that can be installed in just days vs. the months required with traditional approaches. Data center operators can immediately experience significant improvements in operational flexibility, utilization, and data-driven management.
"VPS needed a partner that could move quickly, understood the value of Software Defined Power, and had the design capabilities required to develop the hardware that could mate with our innovative software. CUI became the logical choice as our hardware partner," said Shankar Ramamurthy, CEO of Virtual Power Systems.
"This agreement is yet another example of our commitment to designing and engineering leading edge technologies in both power and energy and then partnering with industry leaders, like VPS, to deliver these technologies to market and, thereby, increase our profitability and enhance our shareholder value," explained William Clough, CUI Global's President & CEO.
CUI and Virtual Power Systems will plan to demonstrate the technology at APEC (Applied Power Electronics Conference) in Long Beach, CA from March 20th to the 24th.
About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .
CUI Global, Inc. is a publicly traded company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. From Orbital Gas Systems' advanced GasPT2 platform targeting the energy sector, to CUI Inc.'s digital power platform serving the networking and telecom space, CUI Global and its subsidiaries have 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. But most importantly, a commitment to conduct business with a high level of integrity, respect, and philanthropic dedication allows the organization to make a difference in the lives of their customers, employees, investors and global community.
For more information please visit www.cuiglobal.com
About CUI Inc
CUI Inc is a technology company dedicated to the development, commercialization, and distribution of new, innovative electro-mechanical products. Over the past 20 years, CUI has become a recognized name in electronic components worldwide in the areas of power, interconnect, motion control, and sound. CUI's solid customer commitment and honest corporate message are a hallmark in the industry. CUI is a wholly owned subsidiary of CUI Global, Inc.
For more information please visit www.cui.com
About Virtual Power Systems Inc.
Virtual Power Systems, Inc. (VPS) is the leading software defined power® company transforming how data centers provision, manage, and utilize power capacity. It is addressing the top growth constraint to data centers - power availability. Its software called ICE (Intelligent Control of Energy) makes power an elastic resource across the data center. As a result, infrastructure utilization is improved by up to 50% within the existing power footprint, while improving visibility, availability, and avoiding new capex. The VPS mission is to enable data center operators to double power and server utilization, slash costs, and improve availability
For more information please visit www.virtualpowersystems.com
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This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.
SOURCE CUI Global, Inc.