Agilent Technologies Launches Dedicated Venture Unit; Agilent
Ventures to <A.N>
Agilent Technologies Launches
Dedicated Venture Unit; Agilent Ventures to Invest up to $100 Million
per Year in Technology Start-Ups
PALO ALTO, Calif.--(BUSINESS WIRE)--Feb. 5, 2001--Agilent
Technologies Inc. (NYSE:A), a leading provider of innovative
technologies for communications and life sciences, announced today the
formation of Agilent Ventures, a unit dedicated to investing in
technology start-up companies on a global basis.
By formalizing its corporate venture activities, Agilent expects
to strengthen its technology leadership position in optical and
wireless communications, as well as the life sciences arena. The
company plans to focus on earlier-stage companies, injecting between
$2 million and $10 million capital into each company. The unit plans
to invest up to $100 million per year.
In addition to investing capital, Agilent Ventures will provide
start-ups with the opportunity to tap into Agilent's vast technological
resources and to actively partner with Agilent to jointly develop new
technologies and products.
Maximilian Schroeck has been appointed managing director of Agilent
Ventures. Prior to joining Agilent, he spent eleven years with A.T.
Kearney Inc. in Santa Clara, Calif. where he was a vice president in
the firm's high-tech practice, as well as a co-leader of its North
American corporate venturing activities. Schroeck, 37, holds a Ph.D.
in strategic management and organization from Bavarian State University
in Munich, Germany. "Agilent Ventures is a strategic business tool
that will support Agilent's aggressive growth strategy through early
access to relevant technological innovations," said Schroeck. "We plan
to leverage Agilent's relationships with selected venture capitalists
to provide comprehensive support to our portfolio companies. 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."
About Agilent Technologies Agilent Technologies Inc. (NYSE:A) is
a diversified technology company with approximately 47,000 employees
serving customers in more than 120 countries. Agilent is a global
leader in designing and manufacturing test, measurement and monitoring
instruments, systems and solutions, and semiconductor and optical
components. In fiscal year 2000, Agilent had net revenue of $10.8
billion. The company serves markets that include communications,
electronics, life sciences and healthcare. Information about Agilent
Technologies can be found on the Web at www.agilent.com.
This news release contains forward-looking statements (including,
without limitation, information regarding the expectation that Agilent,
as a result of Agilent Ventures, will strengthen its leadership
position in various markets, develop new technologies and products,
invest in and provide start-ups with Agilent resources, and leverage
relationships with venture capitalists to support its portfolio
companies) that involve risks and uncertainties that could cause the
results of Agilent Technologies to differ materially from management's
current expectations. These and other risks are detailed in Agilent's
Annual Report on Form 10-K for the year ended October 31, 2000, as
filed with the Securities and Exchange Commission.
--30--jp/sf* CONTACT: Agilent Technologies
Maximilian Schroeck, 650/752-5592
maximilian:schroeck@agilent.com Amy Flores, 650/752-5303
amy:flores@agilent.com
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