Agilent Technologies Venture Unit Invests in Novera Optics' Second Round of Funding.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)--March 16, 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) announced that Agilent Ventures (AV) has invested in Novera Optics, a development-stage company that designs and manufactures photonic subsystems for communications-equipment suppliers. The amount of Agilent investment was not disclosed. The AV investment was part of a second round of funding, led by Octane Capital Management, that raised $83 million in equity and debt for Novera Optics, a developer of dynamic optical signal processors that enhance performance of optical networks. This is a continuation of Agilent technology investments now managed by the recently formed Agilent Ventures, a unit dedicated to key venture investments in technology start-up companies on a global basis. AV plans to invest up to $100 million per year, injecting between $2 million and $10 million capital into selected earlier-stage companies active 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. "We invested in Novera Optics because we believe that dynamic gain flattening filters are an important technology for future optical networks," said John O'Rourke John W. O'Rourke (August 23, 1849 - June 23, 1911) was a 19th century baseball player. Between 1879 and 1883, he played in the National League with the Boston Red Caps (1879-1880) and in the American Association for the New York Metropolitans (1883). , vice president and general manager of Agilent's Optical Networking Communications between computers, telephones and other electronic devices using light. An optical network is far more reliable and has far greater potential transmission capacity than networking in the electrical domain. See optical fiber. Division. "And we see synergies between Novera Optics' efforts and the direction Agilent is taking in its businesses." "Besides investing capital, AV offers start-ups like Novera Optics the opportunity to tap into Agilent's resources and through technology agreements work jointly with Agilent to develop new technologies and products," said Maximilian Schroeck, managing director of Agilent Ventures. "AV is a strategic business tool that will support Agilent's aggressive growth strategy through key alliances with start-up companies allowing early access to relevant technological innovations." About Novera Optics, Inc. Founded in 1999, Novera Optics (formerly known as Ultraband Fiber Optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber , Inc.) is a development stage company headquartered in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. , that develops, markets, and supports dynamic fiber optic subsystems. Novera Optics(TM) dynamic optical signal processors enhance performance of fixed optical networks and enable dynamic networks by eliminating transmission bottlenecks. For more information, please visit www.noveraoptics.com. About Agilent Technologies Agilent Technologies Inc. (NYSE: A) is a global technology leader in communications, electronics, life sciences and healthcare. With 48,000 employees serving customers in more than 120 countries, Agilent had net revenue of $10.8 billion in fiscal year 2000. Information about Agilent can be found on the Web at www.agilent.com. |
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