Agilent Technologies to Acquire NetworkFab, a Developer of Advanced Signal Intelligence and Communications Systems
SANTA CLARA, Calif., Aug. 13, 2007, Agilent Technologies Inc. (NYSE: A) and NetworkFab Corp. today announced that they have signed a definitive agreement for NetworkFab to join Agilent. Privately held NetworkFab designs and builds advanced signal intelligence, communications and jammer systems for the U.S. military, intelligence agencies and law enforcement groups. The transaction is subject to various standard closing conditions and is expected to close in 30 to 60 days. Financial details were not disclosed.
NetworkFab’s core competencies are in radio frequency communications, including direction finding, jamming, antenna design, networking, software design and custom systems engineering.
When the acquisition is final, NetworkFab will become a key part of Agilent’s recently formed Signal Networks Division, specifically targeted to aerospace/defense. Agilent has a long history of market leadership in the test and measurement industry, including aerospace/defense. By acquiring NetworkFab, Agilent will expand its presence in operational environments to support U.S. government prime contractors.
“NetworkFab will bring world-class talent and state-of-the-art technologies to Agilent, strengthening our presence in the aerospace/defense market,” said Tom Burrell, vice president and general manager of Agilent’s Signal Networks Division. “We look forward to becoming a more significant supplier of SIGINT and EW subsystems, and NetworkFab will help us become a major player in this market.”
“We are very excited to join Agilent and be part of one of the perennial Silicon Valley companies, with a great history and reputation,” said Rick Lu, president and CEO of NetworkFab. “Agilent’s engineering and technology-driven culture is a good match with NetworkFab’s corporate culture. The acquisition will help us accelerate our products and technologies to market, and continue to serve our important government, military and intelligence customers. We will have a stronger market positioning to win both larger, and greater numbers, of jobs.”
More information about NetworkFab is available at www.networkfab.com.
NetworkFab Corp., based in Santa Clara, Calif., builds state-of-the-art signal intelligence, direction finding, communications and electronic warfare systems for military groups, intelligence agencies and law enforcement groups. The company provides off-the-shelf products and can also rapidly develop custom solutions. NetworkFab was founded in 2000.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is the world’s premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company’s 19,000 employees serve customers in more than 110 countries. Agilent had net revenue of $5.0 billion in fiscal year 2006. Information about Agilent is available on the Web at www.agilent.com.
This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, information regarding NetworkFab’s technological expertise and its enhancement of our product portfolio, information regarding the contribution NetworkFab would make to Agilent’s ability to address customer demands, and the ability of Agilent to provide improved products, services and support to its customers following the closing. These forward-looking statements involve risks and uncertainties that could cause Agilent’s results to differ materially from management’s current expectations. Such risks and uncertainties include, but are not limited to risks associated with the ability to effectuate the acquisition on a timely basis, risks associated with changes in demand for Agilent’s and NetworkFab’s products, risks associated with the timing of completion of the acquisition, and risks associated with the development generally of Agilent’s overall strategic objectives.
In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles; ongoing competitive, pricing and gross margin pressures; the impact of geopolitical uncertainties on our markets and our ability to conduct business; the ability to improve asset performance to adapt to changes in demand; the ability to successfully introduce new products at the right time, price and mix; and other risks detailed in Agilent’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the period ended Oct. 31, 2006 and its Quarterly Report on Form 10-Q for the period ended April 30, 2007. Forward-looking statements are based on the beliefs and assumptions of Agilent’s management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.
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Michele Drake, Agilent Corporate
+1 408 345 8396
Janet Smith, Agilent EMG
+1 970 679 5397
Rick Lu, CEO, NetworkFab
+1 408 567 9771
Rodney Gonsalves, Agilent
+1 408 345 8948
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