TUALATIN, Ore.--(BUSINESS WIRE)--CUI Global, Inc. (OTCBB:CUGI), a platform company dedicated to the acquisition, development, and commercialization of new, innovative technologies, today announced that it has filed its application for conditional listing on the NASDAQ Capital Market. The company has chosen the NASDAQ Capital Market for its national exposure and its advanced trading capabilities. The NASDAQ is known for its high-volume trading, especially involving technology companies.
“Over the last several years, CUI Global has undergone a remarkable transformation,” said William Clough, CUI Global’s president & CEO. “We have evolved from a pre-revenue company with a promising patent portfolio into a strong, revenue-generating, IP-driven, global technology platform company – we’ve proven that we can rapidly and efficiently introduce new technologies into a variety of markets while delivering significant EBITDA growth.“
“Our decision to move onto the NASDAQ Capital Market was made after careful and thorough consideration as to which market alternative was best aligned with our company and its new business model,” stated Clough. “We concluded that the NASDAQ, with its slate of dynamic technology companies, state-of-the-art electronic trading platform and focus on world-class customer service, was a natural fit for CUI Global and our investors.”
CUI Global has achieved a number of milestones over the past several years, including, but not limited to:
- Acquired CUI Inc. in May 2008;
- Acquired CUI Japan in July 2009;
- Diversified and expanded revenue from continuing operations from less than $20 million in 2008 to more than $37 million in 2010;
- Reduced acquisition and other long-term debt from approximately $41.1 million in 2008 to approximately $14.6 million in 2011;
- Acquired and developed new technologies, including the Novum™, Solus™, and Vergence™ (GasPT2) product lines;
- Expanded its global sales force;
- Acquired, developed, and delivered the Vergence GasPT2 inferential gas metering device for market validation in Europe;
- Negotiated and concluded a Statement of Cooperation with Ericsson under which it will develop and market multi-source, digital Point-of-Load (POL) power solutions with Ericsson; and
- Became a leading force in technologies, including digital power, motion control, and industrial test & measurement devices used by major global brands.
CUI Global has reached a stage wherein it can now leverage those accomplishments into greater shareholder value. A key element in the process of broadening its investor base and dramatically increasing its exposure to larger financial markets is a listing on the NASDAQ Capital Market.
The company expects to realize a number of benefits from a listing on the NASDAQ, including:
- Access to a much larger national, as well as global, financial market;
- Immediate expanded exposure to institutional and other large investors;
- Greater attraction of industry and financial analysts; and
- The ability to publicize the company’s financial performance, design wins, and other important information to a larger, more receptive audience.
“The development and commercialization of our Novum™ Advanced Power, Solus™ Power Topology, and Vergence™ GasPT2 products, coupled with the continuing growth in our current business, provides us with a perfect technology platform befitting a listing on the NASDAQ Capital Market,” Clough concluded.
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 CUI Global, Inc.
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.
For more information, please visit www.cuiglobal.com and www.cui.com.
Important Cautions Regarding Forward-Looking Statements
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.