Agilent Technologies' Venture Unit Invests in Big Bear Networks' Series B Round of Funding
Source/Type: Company News Releases

August 22, 2002... PALO ALTO, Calif.
Agilent Technologies Inc. today announced that Agilent Ventures (AV) has participated in the Series B-1 Preferred Stock funding round for Big Bear Networks, Inc., a privately held company that designs and manufactures highly integrated, optoelectronic interface solutions for next-generation high-speed optical transmission operating at rates from 10 Gb/s to greater than 40 Gb/s.

The AV follow-on investment was part of a Series "B" preferred round of funding, led by Menlo Ventures, which raised over $40 million in equity. Founded in 2000, Big Bear Networks develops electro-optical module and subassembly products based on its Photronic Signal Processing (PSP) technology. PSP overcomes the impairments that degrade data-transmission signals over fiber-optic links, enabling telecommunication carriers to deploy longer and faster fiber links with minimum capital and operational expenditure.

"Agilent Ventures' investment in Big Bear Networks is yet another example of Agilent's willingness to invest in innovative early-stage technology companies despite the current economic downturn," said Maximilian Schroeck, managing director for AV. "We see a number of potential areas for technical collaboration between Agilent and Big Bear Networks."

"We are delighted to have gained a strategic investment partner with expertise across a wide range of high-speed communication technologies, from test equipment to optical networking," said Mark Thompson, president and CEO of Big Bear. "The synergies between the two companies offer significant possibilities for moving beyond our funding relationship into a longer-term, mutually beneficial technology partnership."

About Big Bear Networks

Big Bear Networks' Photronic Signal Processing technology, applicable to next-generation 10- and 40-gigabit-per-second optical system products, combines low-cost electronics and digital signal processing to automatically correct for fiber impairments that become more severe at greater transmission speeds and distances. PSP is the foundation for a line of highly integrated electrical-optical interface solutions that Big Bear will bring to market later this year in the form of subassemblies and transponders. Headquartered in Milpitas, Calif., Big Bear has previously raised $60 million in two rounds of private funding from Accel Partners, Austin Ventures, Menlo Ventures, Oak Investment Partners and Sequoia Capital.

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.

About Agilent Technologies

Agilent Technologies, Inc., 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.

Big Bear contacts:

John Jaeger
Big Bear Networks, Inc.
408-434-3429
jjaeger@bigbearnetworks.com

Janis Ulevich
Ulevich & Orrange, Inc.
650-329-1590
ulevich@u-o.com


Agilent contacts:

Maximilian Schroeck
650-752-5592
maximilian_schroeck@agilent.com

Amy Flores
650-752-5303
amy_flores@agilent.com

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