PALO ALTO, Calif., Nov 2, 2004 (BUSINESS WIRE) -- Agilent
Technologies Inc. (NYSE:A) today announced that Agilent Ventures has
invested in Acer Technology Ventures Asia Pacific Ltd.'s (AcerVC's)
IPF III, which is focused on making venture capital investments in
China.
AcerVC's IPF III will be investing in technology-based private
companies in China that are focused on developing products and
services for both China and global markets. The fund's investment team
has an extensive operational background in global technology companies
and has successfully invested in a number of Asia-based startups.
"Agilent Ventures' investment in AcerVC's latest China-focused
fund demonstrates Agilent's ongoing commitment to China," said
Maximilian Schroeck, managing director of Agilent Ventures. "China has
rapidly become one of the largest markets for Agilent's products, and
we are continuously strengthening our R&D efforts there. By investing
in AcerVC's IPF III, Agilent will be able to build strategic
relationships with leading China-based startup companies developing
innovative technologies and products."
"We are very excited to have Agilent Technologies as an investor
in our new China-focused fund," said William Lu, chairman and general
partner for Acer Technology Ventures Asia Pacific. "We invest in
China-based startups that stand to benefit from market or technology
affiliation with the rest of Asia, Europe and North America. Agilent
develops and markets innovative technology products globally and will
be able to help our portfolio companies tremendously, both technically
and strategically."
About Acer Technology Ventures Asia Pacific Ltd.
AcerVC is an independent venture management company of the Acer
group. It manages IPF I, IPF II and IPF III, totaling about $200
million, and has leading technological and financial groups as limited
partners. All the funds are focused on investing in high-tech startups
in the Greater China region. Additional information is available at
www.acervc.com.cn.
About Acer Group
Acer Group ranks among the world's top-five branded PC vendors,
designing and marketing easy, dependable IT solutions that empower
people to reach their goals and enhance their lives. Established in
1976, the Acer Group had revenues of more than $4.9 billion in 2003
and currently employs 7,800 people supporting dealers and distributors
in more than 100 countries. Additional information is available at
www.acer.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, is available at
www.agilentventures.com.
About Agilent Technologies
Agilent Technologies Inc. (NYSE:A) is a global technology leader
in communications, electronics, life sciences and chemical analysis.
The company's 28,000 employees serve customers in more than 110
countries. Agilent had net revenue of $6.1 billion in fiscal year
2003. Information about Agilent is available on the Web at
www.agilent.com.
Note to Editors: Further technology, corporate citizenship and
executive news is available on the Agilent news site at
www.agilent.com/go/news.
SOURCE: Agilent Technologies Inc.
Agilent Ventures
Maximilian Schroeck, 650-752-5592
maximilian_schroeck@agilent.com
or
Agilent
Amy Flores, 650-752-5303 (Corporate)
amy_flores@agilent.com