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Technology Stocks : Agilent Technologies (A)
A 146.62-0.1%2:10 PM EST
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To: Chris L. who started this subject2/5/2001 2:48:55 PM
From: Shawn M. Downey  Read Replies (1) of 620
 
*AGILENT TECHNOLOGIES <A.N> SAYS FORMS TECHNOLOGY START-UP
INVESTING UNIT

PALO ALTO, Calif., Feb 5 (Reuters) - Electronics testing and manufacturing company Agilent Technologies Inc. <A.N> said on Monday it formed a unit to invest in technology start-up companies in order to expand its presence in the optical, wireless communications and life sciences markets.

Palo Alto, Calif.-based Agilent said Agilent Ventures will invest between $2 million and $10 million into each early-stage company. The unit plans to invest up to $100 million in various companies each year.

Agilent Ventures will provide start-up firms with access to the parent company's resources in hopes of developing new technologies and products, it said.

"We plan to leverage Agilent's relationships with selected venture capitalists to provide comprehensive support to our portfolio companies," Maximilian Schroeck, managing director, said in a statement. "We expect that money will be the least significant part of our company's contribution to the successful ramp-up of a technology start-up."

Shares of Agilent rose 30 cents to $52.50 Monday morning on the New York Stock Exchange. The stock has traded in a 52-week range of $38.06 to $160.00.
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