Agilent Technologies' Venture Unit Invests in MEMX's Series B Round of Funding.Business Editors PALO ALTO, Calif.--(BUSINESS WIRE)--Feb. 11, 2003 Agilent Technologies Inc. (NYSE NYSE See: New York Stock Exchange :A) today announced that Agilent Ventures (AV) has participated in the Series B Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. funding round for MEMX Inc., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. that designs and commercializes MEMS-based solutions for communications and medical industries. The AV investment was part of a Series B preferred round of funding, led by Austin Ventures and Sequoia Capital, which raised more than $8 million in equity. Founded in 2000 as a spin-off from Sandia National Laboratories Sandia National Laboratories, which is managed and operated by the Sandia Corporation (a wholly owned subsidiary of Lockheed Martin Corporation), is a major United States Department of Energy research and development national laboratory with two locations, one in Albuquerque, New , MEMX develops products based on the SUMMiT V MEMS (MicroElectroMechanical Systems) Tiny mechanical devices that are built onto semiconductor chips and are measured in micrometers. In the research labs since the 1980s, MEMS devices began to materialize as commercial products in the mid-1990s. (micro electro-mechanical systems)technology. "Agilent Ventures' investment in MEMX is a good example of Agilent's continuing effort to invest in and partner with early-stage technology companies focused on developing innovative technologies, despite the current market condition," said Maximilian Schroeck, managing director for AV. "Both teams have already identified a number of potential areas for technical collaboration, and have commenced work toward building a mutually beneficial relationship." "We are delighted to have gained a strategic investment partner with broad expertise from communication technologies to life science," said Mike Hodges, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of MEMX. "We look forward to working with Agilent, given their track record of converting great technology into successful commercial products." About MEMX MEMX is an early-stage start up company with operations in Sunnyvale, California and Albuquerque, New Mexico “Albuquerque” redirects here. For other uses, see Albuquerque (disambiguation). Albuquerque (pronounced [ˈæl.bə.kɚ.kiː], Spanish: [al.βu. . Core members of the MEMX technical team have worked together for over a decade developing innovative MEMS technologies, including the SUMMiT V technology, the world's only five-level surface micromachine technology. Additional information about MEMX can be found at www.memx.com, or contact Mike Hodges at ceo@memx.com. About Agilent Ventures Agilent Ventures is a business unit of Agilent Technologies Inc. dedicated to investing globally in groundbreaking, privately held, early-stage technology companies. Additional information about Agilent Ventures, as well as investment proposal forms, are available at www.agilentventures.com. About Agilent Technologies Agilent Technologies Inc. (NYSE:A) is a global technology leader in communications, electronics and life sciences. The company's 35,000 employees serve customers in more than 110 countries. Agilent had net revenue of $6 billion in fiscal year 2002. Information about Agilent is available on the Web at www.agilent.com. Forward-Looking Statements This news release contains forward-looking statements (including, without limitation, statements relating to the ability of MEMX to expand its product line to include devices of interest to Agilent and the potential for Agilent and MEMX to identify areas for technical collaboration and to work together) that involve risks and uncertainties that could cause results to differ materially from management's current expectations. These risks are detailed in reports filed with the Securities and Exchange Commission, including Agilent's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed Dec. 20, 2002; and Current Report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed on Jan. 24, 2003. NOTE TO EDITORS: Further technology, corporate citizenship and executive news is available on the Agilent news site at www.agilent.com/go/news. |
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