Agilent Technologies Launches $100-Million Venture Fund

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NEWS
Issue #2001 - 07 (Feb. 2001)
(Updated on Feb. 14, 2001)

ACQUISITIONS, MERGERS & AGREEMENTS

Agilent Technologies Launches $100-Million Venture Fund

California-based Agilent Technologies recently established an investment unit to target early-stage companies on a global basis. Despite the economic slowdown, Agilent Technologies sees Agilent Ventures as a long-term investment with a return in three to four years.

Mandate of Agilent Ventures

Invest in startups dedicated to one of the three areas: optical networking, wireless networking or life sciences.
Invest up to $100-million annually, channeling between $2-million to $10-million into each company.
Provide early-stage companies with Agilent’s expertise and resources in design and manufacturing.
Work with startups on joint product development.
Leverage Agilent’s relationship with selected venture capitalists to provide further support to startups.

Maximilian Schroeck, managing director of Agilent Ventures, told CNN America that the new venture will target specific companies and technologies as opposed to a blanket approach. He added, "We are not a huge fund, so we’re going after [technologies] we think can bring us some strategic benefit, instead of primarily financial benefit."

For more information: www.agilent.com/about/newsroom/presrel/2001/05feb2001a.html

Mobileinfo Comments and Advisory: Agilent has launched this fund to suit its own corporate objective to fill in product and service gaps - it is better to buy emerging technologies when you may not be able to create your own unique version. It is a smart move but we wonder if it will attract real innovative startups. Time will tell. We also wonder about their ability to provide strategic benefit to startups. Where is the synergy between optical networking, wireless and life sciences, if it is not a pure financial investment in hot market segments? There is still room in this sector. So it may pick startups which traditional VCs would not touch.

Note: This news release may contain forward-looking statements. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures.

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