President George W. Bush has announced that IBM has been awarded the 2004 National Medal of Technology by the U.S. Department of Commerce and the Technology Administration in recognition of more than four decades of innovation in semiconductor technology.

The award recognizes IBM for having improved the performance and versatility of today's microprocessors, citing significant breakthroughs such as the development of multicore-processor integration, DRAM (Dynamic Random Access Memory), the use of copper on-chip wiring, Silicon on Insulator (SOI) technology, and high-speed Silicon Germanium chips.

The National Medal of Technology is the highest honor awarded by the President of the United States to America's leading innovators. It recognizes companies and individuals who have made lasting contributions to America's competitiveness, standard of living, and quality of life through technological innovation, and substantial contributions to strengthening the nation's technological workforce.

"At IBM, we understand that the true value of innovation comes not from the invention but rather the application of new technology to benefit business and society," said Nick Donofrio, executive vice president, innovation and technology. "Our four decades of breakthroughs in semiconductors have made possible many new products and services that greatly enhance the quality of our lives and our ability to conduct business more efficiently and productively. We're honored to be recognized for our long-term commitment to basic research and development -- and more motivated than ever to extend the limits of what is possible in the future."