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Qcept Technologies Closes $ 4 Million Funding Round; Former Secretary of the United States Treasury Paul H. O'Neill Joins Board of Directors ATLANTA --(Business Wire)-- May 3, 2004 -- Qcept Technologies Inc., a leading developer of Chemical Metrology solutions for semiconductor manufacturing, announced today that it has closed its $ 4 million "B" funding round. Previous investor Pittco Capital Partners LLC led the round, joined by additional previous investors Atlanta Technology Angels (ATA) and Bergman and Associates.Notable Atlanta-based private investors included Steve W. Chaddick, Senior Vice President and Chief Strategy Officer of CIENA Corporation, and Meade Sutterfield, President and CEO of SPCSS Corporation and Special Limited Partner of Antares Capital Corporation. Capital from the proceeds will be used to continue product development and expand sales of Qcept's Chemical Metrology solutions for the semiconductor manufacturing industry. New investors include O'Neill and O'Neill, the private investment group led by the former Secretary of the United States Treasury, Paul H. O'Neill. Mr. O'Neill is also joining Qcept's Board of Directors. "We are very pleased by the world-class quality of our new board members and investors, including the support that allowed us to quickly close a significantly 'up' round in this challenging economic climate," said Bret Bergman, President and CEO of Qcept. Bergman continued, "Paul O'Neill's reputation as an industry leader and expert in global economic affairs speaks for itself. His guidance will be critical as we take Qcept to the next level in providing solutions to improve semiconductor manufacturing efficiency." About Paul H. O'Neill Paul H. O'Neill is a Special Advisor and Consultant to The Blackstone Group and a member of the firm's Domestic Advisory Board, with a focus on advising the firm's private equity funds' portfolio companies on operational and related issues, and assisting the firm in analyzing potential private equity investment opportunities. He is currently a Director of Eastman Kodak Company (NYSE: EK). Paul served as the 72nd Secretary of the United States Treasury from 2001 to 2002. Previously, he was Chairman and CEO of Alcoa (NYSE: AA) from 1987 to 1999, retiring as Chairman at the end of 2000. He was President of International Paper Company from 1985 to 1987, where he was Vice President from 1977 to 1985. O'Neill was on the staff of the U.S. Office of Management and Budget from 1967 to 1977, serving as Deputy Director from 1974 to 1977. Qcept's Board of Directors In addition to Paul H. O'Neill, the Board includes Dr. Steven Danyluk, Qcept Founder and CTO; Bret Bergman, Qcept President and CEO; Dr. David Lam, founder of Lam Research (NASDAQ: LRCX); Gary Arnold, Director of National Semiconductor Corporation (NYSE: NSM); Dick Cook, President and CEO of MAPICS, Inc. (NASDAQ: MAPX); and Andrew Seamons, Managing Partner, Pittco Capital Partners LLC. About Pittco Capital Partners LLC Pittco Capital Partners LLC is a Memphis, Tennessee based private equity firm investing in early and later-stage growth companies. The firm is privately held by J.R. "Pitt" Hyde III, the founder and former Chairman and CEO of AutoZone, Inc. (NYSE: AZO). About Atlanta Technology Angels Atlanta Technology Angels ("ATA") is a private group seeking investments in early stage technology companies based in Atlanta. ATA has invested in 23 Atlanta technology companies between 1999 and 2003 and is an active source of private capital to local entrepreneurs and the Atlanta technology community. All inquiries can be directed to: [email protected]. About Qcept Technologies Inc. Qcept delivers Chemical Metrology solutions for the detection, inspection, and measurement of chemical variation and uniformity on semiconductor wafers. The breakthrough technology enables single atomic-layer sensitivity on surfaces. Qcept's Chemical Metrology solution is being adopted in Copper CMP and other processes for in-line, non-contact, full-wafer inspection and rapid analysis to increase yield. For more information, call (404) 685-9434, email [email protected] or visit www.qceptech.com. Chemetriq is trademark of Qcept Technologies, Inc. |
