Indigo Secures $17.6 Million In Financing

June 26, 2002
Santa Barbara, CA, June 25, 2002 -- Indigo Systems Corporation, a provider of high-performance infrared (IR) cameras and technology for commercial, industrial and military applications, has secured $17.6 million in financing from global private equity firm, The Carlyle Group; a group of founders and CEOs of major technology companies led by Founders Capital Partners, London's Lago Ventures and WK Technology Fund, the leading venture firm in Taiwan

Santa Barbara, CA, June 25, 2002 -- Indigo Systems Corporation, a provider of high-performance infrared (IR) cameras and technology for commercial, industrial and military applications, has secured $17.6 million in financing from global private equity firm, The Carlyle Group; a group of founders and CEOs of major technology companies led by Founders Capital Partners, London's Lago Ventures and WK Technology Fund, the leading venture firm in Taiwan.

The investment will take Indigo through the next stage of its strategy to deliver high-performance infrared products at commercially viable prices to markets around the world. The first stage of Indigo's strategy, completion of a state-of-the-art infrared detector manufacturing plant, was fueled by a strategic investment from Northrop Grumman in September 2000.

As part of the agreement, Indigo will add two new members to its board of directors:

* L. Robert Johnson, Managing Partner of Founders Capital Partners, a venture capital partnership focusing on early-stage, technology-based businesses.
* Allan C. Thygesen, Managing Director, Venture Capital at The Carlyle Group, a global private equity firm with more than $13.5 billion under management

High-performance IR cameras can detect the very small amounts of heat given off by anything that grows, moves or changes state, such as a person, cancerous cells, an electrical connection, chemicals reacting together or a car engine. This makes them ideal for monitoring conditions where darkness, obstruction or lack of usable, visible information renders traditional cameras useless. In addition, advances in miniaturization pioneered by Indigo, are opening up new markets and applications for tiny, low-cost, IR cameras in areas such as firefighting, industrial monitoring, automotive safety, security and surveillance, border control and medical imaging.

Indigo Systems Corporation, based in Santa Barbara, Calif., is a developer and supplier of advanced infrared cameras and components for commercial, industrial and military use. Indigo Systems is a next-generation IR company, whose unique structure and mix of commercial and defense expertise allows it to deliver the military-grade infrared products while driving down costs to enable new, commercial applications of infrared cameras.

For more information, visit www.indigosystems.com.

Laser Focus World

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