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Technology Stocks : Speedfam [SFAM] Lovers Unite ! -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (3476)	8/27/1999 6:49:00 AM
From: SemiBull	Respond to of 3736

Ridding yourself of assets that take your focus away from your primary financial engine is usually well received by Wall Street, particularly if it is not generating sufficient revenue or adding to EPS. Only time will tell....but Faubert has my support...SemiBull ADE Corporation and Speedfam-IPEC Announce the Acquisition of the Metrology Assets of IPEC Precision WESTWOOD, Mass. and CHANDLER, Ariz.--(BUSINESS WIRE)--Aug. 26, 1999-- Deal Provides ADE with 21st Century SOI and CMP thin-film metrology Capabilities ADE Corporation (NASDAQ:ADEX - news) and Speedfam-IPEC, Inc. (NASDAQ:SFAM - news) announced today that ADE has acquired certain assets, and licensed certain intellectual property rights in the technology and designs of the advanced metrology equipment formerly designed and produced by the IPEC Precision division of Speedfam-IPEC located in Bethel, Connecticut. This advanced metrology equipment is used in the qualification of wafers for silicon-on-insulator (SOI) advanced wafer products and in CMP device fab processes. Terms and conditions of the deal were not disclosed. Robert C. Abbe, ADE president and chief executive officer, stated, ``This strategic acquisition provides ADE with industry-leading SOI and CMP film metrology capabilities and complements our existing technology and product lines. This acquisition enables us to better serve our wafer and device customers with a broader range of advanced metrology solutions. These new product lines are key components in ADE's continuing mission to provide 21st century systems for today's semiconductor manufacturers. SpeedFam-IPEC's patented AcuMap(c) system - a unique innovation which allows rapid,comprehensive and detailed mapping of thin films on a whole-wafer basis -- is currently in place at multiple customer sites worldwide. This product plays a critical role for device and wafer customers in managing yields and enhancing throughput.' Richard J. Faubert, SpeedFam-IPEC President and CEO, stated ``this transaction reflects the Company's continued efforts to realize operating synergies through the integration of SpeedFam and IPEC and strategically focus the Company on the core CMP business.' Abbe concluded, ``As we approach the millennium, there is a burgeoning need for advanced semiconductor manufacturing equipment to support the developing 'system-on-a-chip`` requirements of the industry. This acquisition is a component of ADE's metrology strategy to support these advanced industry requirements. Our focussed approach to develop ADE's product lines positions the Company to benefit from the broader opportunity for future industry growth driven by rapidly expanding consumer, automotive and communications opportunities for chips.' Contact: ADE Corporation Speedfam-IPEC, Inc. Mark D. Shooman J. Michael Dodson Vice President and CFO Chief Financial Officer 781/467-3702 480/705-2105