Agilent Also Appoints Electro Rent Europe as Premier Rental Partner
Electro Rent Corporation (NASDAQ:ELRC) announced today that it has entered into a two-year renewal agreement with Agilent Technologies to remain Agilent's sole Authorized Technology Partner (ATP) for the United States and Canada. The original agreement commenced December 1, 2009 to provide small and medium size customers with financial alternatives for acquiring Agilent's electronic test and measurement products. The new agreement commenced February 1, 2012.
"Since we began our exclusive sales relationship with Agilent a few years ago, we have honed our technical, applications and sales support skills, expanding our customers' equipment acquisition alternatives that are needed to meet new and challenging business objectives," said Daniel Greenberg, CEO of Electro Rent. "We are extremely proud to have extended our long-standing strategic relationship with Agilent and to be able to continue offering customers interested in Agilent's electronic test and measurement equipment maximum flexibility, providing a highly valued opportunity for companies."
Separately, Electro Rent announced that its European subsidiary, Electro Rent Europe NV, has been appointed as a European Premier Rental Partner for Agilent Technologies. Through the agreement, Electro Rent Europe will provide flexible equipment acquisition solutions, including rental, leasing and other financial services, in partnership with Agilent, to customers throughout Europe, including the Eastern Bloc countries.
"This appointment expands the long-standing and fruitful relationship between Electro Rent and Agilent which began several decades ago in the United States," continued Greenberg. "Electro Rent's ability to provide a viable alternative to acquiring Agilent's much sought-after test and measurement products will allow European customers to rapidly deploy the equipment they require, exactly when they need it."
About Electro Rent
Electro Rent Corporation (www.ElectroRent.com) is one of the largest global organizations devoted to the rental, leasing and sales of general purpose electronic test equipment, personal computers and servers.
"Safe Harbor" Statement:
Except for the historical statements and discussions in this press release, the company's statements above constitute forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934. These forward-looking statements, which include, but are not limited to, whether Electro Rent can continue to provide customers with equipment acquisition alternatives that will help them meet new and challenging business objectives, reflect Electro Rent's management's current views with respect to future events and financial performance; however, you should not put undue reliance on these statements. When used, the words "expect," "will," "helping," and other similar expressions identify forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties. The company believes its management's assumptions are reasonable; nonetheless, it is likely that at least some of these assumptions will not come true. Accordingly, Electro Rent's actual results will probably differ from the outcomes contained in any forward-looking statement, and those differences could be material. Factors that could cause or contribute to these differences include, among others, those risks and uncertainties discussed in the company's periodic reports on Form 10-K and 10-Q and in its other filings with the Securities and Exchange Commission. Should one or more of the risks discussed, or any other risks, materialize, or should one or more of our underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, expected or projected. In light of the risks and uncertainties, there can be no assurance that any forward-looking statement will in fact prove to be correct. Electro Rent undertakes no obligation to update or revise any forward-looking statements.
Contacts:
Electro Rent Corporation
Daniel Greenberg, Chairman and CEO
818-786-2525
or
PondelWilkinson
Inc.
Roger Pondel/Laurie Berman
310-279-5980
investor@pondel.com
