Applied Materials Ventures Out

SANTA CLARA, Calif. -- Applied Materials, Inc. (Nasdaq:AMAT) announced today that it has created a venture capital fund, Applied Materials Ventures I, L.P. (Ventures I), to team with emerging companies that are developing the next wave of processing technologies and silicon optical devices. Ventures I plans to invest in companies with promising thin-film processing and device innovations that potentially may create alternative manufacturing competencies for both the semiconductor and emerging optical communications components industries. "Our goal is to provide funding for companies that are on the leading edge of scientific and technical breakthroughs that can positively impact the semiconductor industry, and provide opportunities for Applied Materials to leverage its manufacturing expertise within the optical communications industry," says Joseph R. Bronson, executive vice president, Office of the President, and chief financial officer of Applied Materials. "By teaming with these companies to fund strategic projects, we hope to prospect new technologies and bring them to maturity more rapidly."Applied Materials Ventures I LP