Re: IRSN
Talk about adding DoD muscle to your Board...
Friday January 26, 5:58 am Eastern Time
Press Release
SOURCE: iNetWorks Corporation
William Perry & John Deutch Join iNetWorks Board
COSTA MESA, Calif., Jan. 26 /PRNewswire/ -- iNetWorks(TM) Corporation, a subsidiary of Irvine Sensors Corporation (Nasdaq: IRSN, BSE: ISC), today announced the appointment of Dr. William J. Perry and Dr. John M. Deutch to its Board of Directors.
Dr. Perry, former United States Secretary of Defense, is presently a professor at Stanford University, with a joint appointment in the School of Engineering and the Institute for International Studies, and also serves on the board of Cylink and several emerging companies. Dr. Perry's prior business experience includes serving as a laboratory director for General Telephone and Electronics (1954-1964); founding and serving as the president of ESL, Inc. (1964-1977); Executive Vice-President of Hambrecht & Quist, Inc. (1981-1985); and founding and serving as the Chairman of Technology Strategies & Alliances (1985-1993). Dr. Perry received his B.S. and M.S. from Stanford University and his Ph.D. from Penn State, all in mathematics. He is a member of the National Academy of Engineering and a fellow of the American Academy of Arts and Sciences.
Dr. Deutch, presently an Institute Professor at the Massachusetts Institute of Technology, is a former Deputy Secretary of Defense and Director of Central Intelligence. He has served as Dean of Science and Provost of M.I.T. Dr. Deutch earned a B.A. in history and economics from Amherst College and both his B.S. in chemical engineering and Ph.D. in physical chemistry from M.I.T. He holds honorary degrees from Amherst College, University of Lowell and Northeastern University. Dr. Deutch also serves as director for Ariad Pharmaceutical, Citicorp, CMS Energy, Cummins, Raytheon, and Schlumberger Ltd., all publicly traded companies.
Mel R. Brashears, Chairman and Chief Executive Officer of iNetWorks, noted, ``Bill Perry and John Deutch have uniquely broad backgrounds that are relevant to the technologies, businesses, financing and scope of what iNetWorks has set out to accomplish. We understand the magnitude of the business challenge associated with the explosive growth of telecommunications networks and the Internet, and we also understand the corresponding magnitude of the rewards that can come with success. We have actively sought the kind of outside Directors that can help us address those challenges and achieve that success. We believe that Bill Perry and John Deutch are precisely those kinds of individuals. Having worked with both previously, we enthusiastically look forward to their contribution.''
iNetWorks is developing a telecommunications router product for potential introduction in 2002 that combines Irvine Sensor's patented 3-dimensional (3D) chip-stacking and interconnect structures with superconducting electronics, providing 100 times the throughput of what is available today. iNetWorks is presently co-located with its parent, Irvine Sensors Corporation, in Costa Mesa, California.
Irvine Sensors Corporation is primarily engaged in the development of high density electronics, MicroElectroMechanical sensors (MEMS) and readout circuits, miniature cameras, electro-optical and optical switches, image processing devices and software, electronic image stabilization, wireless infrared communications products, and low-power analog and mixed-signal integrated circuits for diverse systems applications. It primarily seeks to commercialize its technologies through independently financed and managed subsidiaries.
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements that are dependent on risks and uncertainties including such factors, among others, as the market risks associated with new products, the impact of competitive technologies and the pace at which new markets develop. Further information on Irvine Sensors Corporation and its subsidiaries, including, iNetWorks Corporation, is contained in publicly-filed disclosures available through the SEC's EDGAR database (www.sec.gov) or from the Company's Investor Relations.
SOURCE: iNetWorks Corporation |
