Agilent Technologies to Acquire RedSwitch, a Leading Supplier of Switch Fabric Silicon Solutions
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Agilent Technologies to Acquire RedSwitch, a Leading Supplier of Switch Fabric Silicon Solutions

PALO ALTO & MILPITAS, Calif.--(BUSINESS WIRE)--Sept. 26, 2002-- Agilent Technologies Inc. (NYSE: A) and RedSwitch Inc. today announced an agreement for Agilent to acquire the remaining interest in RedSwitch, a leading developer of high-performance switch fabric silicon solutions for the storage, server, networking and telecom markets. Prior to this transaction, Agilent held a 74 percent interest in the Milpitas, Calif.-based company.

RedSwitch, a privately held company with approximately 80 employees, develops and distributes advanced switch fabric silicon solutions implementing the emerging InfiniBand(TM) and RapidIO(TM) industry standards. Agilent and RedSwitch have collaborated closely on the development of an 8-port, 4x InfiniBand switch IC since RedSwitch was founded two years ago. The acquisition will enable a single-vendor solution set that targets server and storage networking customers with a broad range of products, including switches, ASICs, optical transceivers, adapter boards and standard products.

After the closing, RedSwitch will become part of Agilent's Semiconductor Products Group.

"This acquisition will add expertise in key technologies -- InfiniBand and RapidIO -- and will strengthen Agilent's broad networking product and technology portfolio," said Dick Chang, senior vice president and general manager of Agilent's Semiconductor Products Group. "Our two companies are a great fit. RedSwitch has an experienced switch development team that knows how to add value in a high-performance, high-complexity environment. Agilent adds world-class engineering resources, high-volume manufacturing, and global supply chain management, as well as proven strength in distribution, marketing, sales and support."

"By becoming part of Agilent, we can offer our customers broader, more complete solutions," said Hungwen Li, president and CEO of RedSwitch. "Agilent's resources as a Fortune 500 company add credibility to our products in the marketplace and should accelerate customer acceptance. Both companies have a culture of technology innovation; our products are complementary and we talk to the same customers."

The transaction is expected to close by the end of November, subject to closing conditions. Financial details were not disclosed.

In August 2000, Agilent and RedSwitch announced the joint development of an InfiniBand Switch IC. RedSwitch has contributed world-class expertise in high-speed switch fabric design and switch management; Agilent has brought its high-speed I/O design expertise, system-level integration capabilities, and ASIC design and manufacturing skills to the development effort. At the 2001 Intel Developer Forum, the two companies jointly announced sampling of the HDMP-2840 InfiniBand Switch IC, and at this year's Intel Developer Forum, they announced the general availability of the InfiniBand Switch IC.

About RedSwitch, Inc.

RedSwitch is a supplier of high performance switch fabric silicon solutions for the storage, server, networking, and telecom markets. Incorporated in June 2000 with headquarters in Milpitas, Calif., the company was formed by senior executives and design professionals from HAL Computer Systems Inc. RedSwitch products support leading interconnect standards including InfiniBand(TM), RapidIO (TM), and PCI-Express(TM). For more information, contact RedSwitch at 408/719-4888, or visit the company's Web site at www.redswitch.com.

About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) is a global technology leader in communications, electronics and life sciences. The company's 37,000 employees serve customers in more than 120 countries. Agilent had net revenue of $8.4 billion in fiscal year 2001. Information about Agilent is available on the Web at www.agilent.com.

This news release contains forward-looking statements (including, without limitation, statements relating to the expected completion of the acquisition and the ability of Agilent Technologies to expand and strengthen its product offerings and solutions as a result of this acquisition) that involve risks and uncertainties that could cause results of Agilent Technologies to differ materially from management's current expectations. These risks include the failure to: complete the acquisition; successfully integrate products, different company cultures, management teams, business infrastructures and research and development; realize the value from expected synergies; or retain key employees; as well as other risks detailed in Agilent Technologies' Annual Report on Form 10-K/A filed Feb. 1, 2002; its Quarterly Report on Form 10-Q for the quarter ended Jan. 31, 2002; its Quarterly Report on Form 10-Q for the quarter ended April 30, 2002; and its Quarterly Report on Form 10-Q for the quarter ended July 31, 2002, as filed with the Securities and Exchange Commission.

NOTE TO EDITORS: Further technology, corporate citizenship and executive news is available on the Agilent news site at www.agilent.com/go/news.


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Source: Agilent Technologies