Natixis Global Asset Management announced today that it will acquire AlphaSimplex Group LLC, the investment management firm founded by Dr. Andrew W. Lo, the Harris & Harris Group Professor of Finance at the Massachusetts Institute of Technology's Sloan School of Management.
In conjunction with this transaction, Harris & Harris Group, Inc., will sell its interest in AlphaSimplex for $125,000.
Harris & Harris Group is a publicly traded venture capital company that makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 35 initial private equity investments have been in tiny technology-enabled companies. The Company has 23,266,442 shares of common stock outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.TinyTechVC.com.
This news release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this news release. Please see the Company's Registration Statement on Form N-2 and Annual Report on Form 10-K for the year ended December 31, 2006, as well as subsequent SEC filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc., undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the website www.TinyTechVC.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this news release.
CHARLES E. HARRIS
TEL. NO. (212) 582-0900