Cypress and Arrow Electronics Expand Collaboration to Deliver Leading IoT Solutions

SAN JOSE, Calif. and CENTENNIAL, Colo., March 9, 2017 /PRNewswire/ -- Cypress Semiconductor Corp. (NASDAQ: CY), a leader in wireless internet of things (IoT) solutions, and global technology solutions provider Arrow Electronics, Inc. (NYSE: ARW), today announced an expanded collaboration to jointly enable internet-of-things (IoT) innovations.

Arrow will leverage Cypress' industry-leading portfolio of IoT connectivity solutions to help its customers in the industrial, retail, life-sciences and smart-cities sectors develop and bring seamless, comprehensive IoT solutions to market. Cypress' WICED^® IoT development platform supports the industry's leading IoT-focused wireless connectivity portfolio with market-proven Wi-Fi^® solutions, including high-performance 802.11ac solutions and combo solutions.

"Wi-Fi is essential for IoT device connectivity, and Cypress' Wi-Fi and combo solutions will enable us to bring robust cloud connectivity to our customers around the world," said Aiden Mitchell, global vice president of IoT sales at Arrow. "The expansion of our relationship with Cypress will help strengthen both of our positions as go-to partners for leading innovators in a wide range of markets who are looking to bring more intelligence to their products while speeding time to market."

"We believe expanding our partnership with Arrow will help Cypress build our leadership position in IoT connectivity and strengthen our reach in the fast-growing segments we focus on most in our target markets," said Mike Balow, executive vice president of sales and applications at Cypress. "Not only will we benefit from Arrow's technical, sales and logistics expertise, but we will collaborate on more marketing opportunities as well."

Arrow is the primary sponsor of the Schmidt Peterson Motorsports (SPM) No. 5 Honda race car driven by James Hinchcliffe in the Verizon IndyCar series, and Cypress has now joined the sponsorship team at Arrow's invitation. Arrow will leverage Cypress' portfolio of IoT connectivity solutions and automotive solutions to give the racing team a technical advantage during the 2017 season. The first race of the season is the Firestone Grand Prix of Saint Petersburg in Florida on Sunday, March 12 at 12:00 p.m. Eastern Time on ABC.

"We welcome Cypress to the SPM team as a sponsor and technology partner," said Schmidt Peterson Motorsports' co-owner Sam Schmidt. "We are firm believers in exploring and using new technology to give our team every edge possible, and we are excited about the ability to gather real-time data and add more intelligence to various aspects of our racing operations with Cypress on board."

The No. 5 car aligns to Arrow's forward-looking mission to operate in the world of Five Years Out—the tangible future of new technologies, new materials, new ideas and new electronics that will make people's lives better, smarter and more inspired. Follow @SPMIndyCar, @Hinchtown, @ArrowGlobal and @CypressSemi on Twitter for updates throughout the 2017 IndyCar season.

Cypress will demonstrate its full portfolio of IoT, automotive, industrial and consumer solutions at the Embedded World trade show in Nuremberg, Germany in hall 4A at the Cypress booth number 148 of the Nuremberg Exhibition Center from March 14-16. Arrow will be introducing a new kit based on Cypress technology at Embedded World. Cypress and Arrow will hold joint demonstrations of IoT solutions in hall 4A at the Arrow booth number H4A/340.

Arrow's sensor-to-sunset full IoT-product-lifecycle capabilities—called eVolve—draw on the company's core strengths in sensor and component distribution, enterprise computing and system integration. For startups and makers, Arrow's broad IoT offerings include services specifically designed to help them advance from idea to product, quickly and cost-effectively.

About Arrow Electronics
Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 125,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 465 locations serving over 90 countries. Learn more at fiveyearsout.com.

About Schmidt Peterson Motorsports
Established in 2001 and owned by former IndyCar driver Sam Schmidt and Canadian businessman Ric Peterson, Schmidt Peterson Motorsports (SPM) currently competes in the Verizon IndyCar Series. With a storied history in the Indy Lights presented by Cooper Tires series with over 70 wins, over 70 pole positions and seven championship wins, the Indianapolis-based team has also found success in IndyCar with five wins, two Indianapolis 500 pole positions and four poles claimed overall, as well as three top-five finishes in the championship points standings.

Follow Cypress Online
Join the Cypress Developer Community, read our Core & Code blog, follow us on Twitter, Facebook and LinkedIn, and watch Cypress videos on our Video Library or YouTube.

About Cypress
Founded in 1982, Cypress is the leader in advanced embedded system solutions for the world's most innovative automotive, industrial, home automation and appliances, consumer electronics and medical products. Cypress's programmable systems-on-chip, general-purpose microcontrollers, analog ICs, wireless and USB-based connectivity solutions and reliable, high-performance memories help engineers design differentiated products and get them to market first. Cypress is committed to providing customers with the best support and engineering resources on the planet enabling innovators and out-of-the-box thinkers to disrupt markets and create new product categories in record time. To learn more, go to www.cypress.com.

Cypress and the Cypress logo are registered trademarks of Cypress Semiconductor Corp. All other trademarks are property of their owners.

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SOURCE Cypress Semiconductor Corp.