Agilent Technologies Launches Dedicated Venture Unit; Agilent Ventures to Invest up to $100 Million per Year in Technology Start-Ups.Business Editors/High-Tech Writers PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Feb. 5, 2001 Agilent Technologies This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. Inc. (NYSE NYSE See: New York Stock Exchange :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 start-up company A new business. on a global basis. By formalizing its corporate venture activities, Agilent expects to strengthen its technology leadership position in optical and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. , 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 Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif. where he was a vice president in the firm's high-tech practice, as well as a co-leader of its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. 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 Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. 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 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. for the year ended October 31, 2000, as filed with the Securities and Exchange Commission. |
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