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Aug. 29, 2006

Darby Joins Innovative Technology Venture Firm Supporting U.S. Intelligence Community

August 29, 2006

In-Q-Tel, the independent strategic venture capital fund that identifies innovative technologies to support the mission of the Central Intelligence Agency (CIA) and the larger Intelligence Community, today announced Christopher A.R. Darby as its new President and CEO. Mr. Darby will assume his new role on September 18, 2006.

Mr. Darby comes to In-Q-Tel from Intel Corporation, where he was Vice President and General Manager, Middleware Products Division. Mr. Darby joined Intel in August 2005 with the acquisition of Sarvega Inc., a venture-backed supplier of XML Networking and Security products which he led as President and CEO. Prior to Sarvega, Mr. Darby was Chairman and CEO of @stake, an internet security consulting firm which was acquired by Symantec (SYMC). While at @stake, he assembled a group of the world’s leading security researchers and built a business that spanned North America and Europe. Before @stake, Mr. Darby served as President and CEO of Interpath Communications, a facilities-based ASP later acquired by US Internetworking (USIX).

Lee A. Ault III, Chairman of the Board of In-Q-Tel, said “We are delighted that Chris Darby is joining In-Q-Tel as President and CEO. As an energetic and experienced entrepreneur with a deep understanding of technology, Chris brings to In-Q-Tel the qualities we were seeking in a leader to build on In-Q-Tel’s large and growing base of portfolio companies and our top priority: delivering leading-edge solutions to pressing challenges confronting the CIA and other members of the Intelligence Community.”

“I am excited to have this once-in-a-lifetime opportunity to work with a team that has already contributed so much to our national security,” said Chris Darby. “In-Q-Tel’s name is synonymous with technology innovation within the government and in the private sector as well.”

Stephanie O’Sullivan, CIA’s Director for Science and Technology, said, “The In-Q-Tel Board of Trustees recognizes the value that we place on this innovative company and has made an extensive search to identify a CEO to lead In-Q-Tel with the same professionalism, technology expertise, and business acumen we’ve relied upon since the company was founded. The Agency and our Intelligence Community partners have high expectations of continued technology returns from In-Q-Tel’s investments in emerging technologies. We welcome the opportunity to engage with Mr. Darby as he takes over the leadership of the In-Q-Tel team.”

“Chris’ experience working with the venture capital community, coupled with an unusual breadth of technical experience spanning hardware, software, telecommunications, and semiconductors, positions him to make an enormous contribution to our government partners,” said Scott Yancey, interim CEO of In-Q-Tel. “We look forward to working with him.”

Mr. Darby has contributed his expertise to government as well, serving in the wake of 9/11 as an advisor to the formation of the Department of Homeland Security, and providing testimony before Congress on the topic of Critical Infrastructure security.

Mr. Darby held several executive positions at Digital Equipment Corporation (now Hewlett-Packard) with responsibility for telecom industry initiatives, strategy, and alliances. He began his career at Northern Telecom (now Nortel Networks) and Bell Northern Research. Mr. Darby is a Senior Fellow at the Center for Advanced Defense Studies in Washington DC. He is a graduate of the University of Western Ontario.

For its nation-wide CEO search, In-Q-Tel retained the services of the executive search firm Heidrick and Struggles.