The launch comes as a result of two years of industry input on a standard, efficient and safe way for companies to buy and sell the critical building blocks that comprise silicon chips.
The VCX was formed two years ago by Scottish Enterprise with a goal of developing a way to address the increasingly challenging business and legal issues involved in virtual component transactions that can significantly slow the electronics product development process. More than 40 leading companies including Hitachi, Motorola, Sun Microsystems and Toshiba have participated in the definition of a standard transaction process, toolsuite and services.
Together, this offering aims to reduce what the company describes as the excessive negotiation and time-consuming contract generation processes that act as bottlenecks to growing this market.
Andy Travers, CEO of the VCX said:
"This is truly a landmark occasion for the VCX, and an important milestone for the electronics industry in general. The timing couldn't be more ideal: every company in the industry is formulating its SIP strategy, so to be able to deliver this important piece of infrastructure now is gratifying. The ability for companies to quickly and securely conduct SIP transactions is essential if they are going to continue to grow, innovate and meet demanding time-to-market requirements."
"We greatly appreciate the valuable contributions of all the VCX members who have been so active over the past two years, and are excited that the fruits of their efforts have led to this new, dynamic B2B exchange that goes far beyond traditional listing or catalogue services."