Panasas Signs Worldwide Manufacturing and Fulfillment Partnership with Avnet

Panasas, a leading data solutions provider for high-performance computing (HPC) and artificial intelligence (AI), and Avnet (Nasdaq: AVT) today announced an agreement enabling Panasas to use Avnet Integrated, the global advanced systems integration arm of Avnet, as its primary manufacturing and fulfillment operations partner. The partnership will enable Panasas to benefit from Avnet's global supply chain and worldwide manufacturing footprint, strengthening Panasas' competitive position and ability to support its growth across the global HPC and AI storage market.

"Avnet Integrated excels in optimizing IT product development, manufacturing at scale, and solutions deployment, globally. This enables our customers to increase their pace of innovation and ultimately elevate their competitiveness," said Nicole Enright, President of Avnet Integrated. "The agreement with Panasas provides access to our global manufacturing and supply chain capabilities, accelerating both time to market and time to scale, for their solutions.

"One of my first goals when joining Panasas was to move to a best-in-class operational model that would enable greater supply chain efficiency and flexibility in order to meet the demand growth that we are seeing across our global customer base, while also accelerating our ability to bring a broader range of solutions to market. This agreement with Avnet Integrated is an important part of that journey," said Ken Claffey, CEO at Panasas. "Our collaboration will enhance our ability to deliver compelling technical value with strong ROI to customers globally, thanks to Avnet's comprehensive integration and worldwide supply chain proficiencies.

Avnet Integrated will be the principal commercial manufacturing partner for Panasas worldwide. It will employ Avnet's intelligent solutions for efficient supply chain management, integration, and international logistics.

To learn more about Panasas, please visit https://www.panasas.com.

About Panasas

Panasas delivers software-defined storage solutions that redefine the industry standards for reliability, simplicity, and scalability in AI and HPC storage by eliminating downtime, data loss, and complexity. The self-healing, self-managing architecture of the proven PanFS® parallel file system provides unprecedented data integrity and ease of use to accelerate performance-intensive workloads in academic research, government, energy, life sciences, and manufacturing sectors. As a pioneer in high-performance data storage, Panasas has over two decades of experience helping customers solve their most complex data challenges at scale and is the trusted partner of choice for data-driven research institutes and enterprises across the globe. For more information, visit www.panasas.com or connect on LinkedIn.

About Avnet

As a leading global technology distributor and solutions provider, Avnet has served customers' evolving needs for an entire century. We support customers at each stage of a product's lifecycle, from idea to design and from prototype to production. Our unique position at the center of the technology value chain enables us to accelerate the design and supply stages of product development so customers can realize revenue faster. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology.

Learn more about Avnet at www.avnet.com.