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ADEPT TECHNOLOGY - NASDAQ Stock Market: ADTK
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News June 01, 08:17 Eastern Time
Adept Technology Completes Acquisition of NanoMotion Incorporated
SAN JOSE, Calif., Jun 1, 2000 (BUSINESS WIRE) --
Purchase of Nano Positioning Engineering Company To Expand Adept's
Fiber Optic and High Precision Assembly Offerings
Adept Technology, Inc. (Nasdaq: ADTK), America's largest manufacturer of
industrial robots and a factory automation leader, today announced that it has
completed the acquisition of NanoMotion Incorporated, a leading developer and
manufacturer of advanced nanometer and sub-nanometer positioning and alignment
systems based in Santa Barbara, California. The company manufactures rugged,
production-ready devices for nanometer-scale movement, positioning and alignment
for the fiber optic, semiconductor and metrology markets. The acquisition closed
on Wednesday, May 31st.
Adept believes the acquisition should expand its leadership role in precision
robotics by adding NanoMotion's rugged, production ready micro and nano
positioning mechanisms to its product offerings. NanoMotion expects to benefit
from Adept's industry experience and marketing and service infrastructure. Adept
additionally believes that the integration of NanoMotion's control technology
into Adept's MV Controller hardware and software architecture will be
instrumental in meeting emerging market needs in fiber optics and
telecommunications.
"NanoMotion is already building the next generation of precision positioning
devices," said Brian Carlisle, chairman and chief executive officer of Adept
Technology. "Unlike other laboratory based efforts, they have successfully
transitioned their technology into production ready products."
"NanoMotion's micro and nano positioning devices are a customer driven extension
to Adept's best-in-class fine positioning robots," noted Joe Campbell, vice
president of marketing of Adept Technology. "Each of our key market segments
have emerging requirements for ultra-high precision automation that will
leverage our combined expertise in this area."
"We are delighted to join the leader in precision factory automation" said Ray
Karam, president of NanoMotion Incorporated. "Our customers wanted a single
source for their high precision robots and positioners. The combination of Adept
and NanoMotion product lines will deliver positioning solutions with resolutions
ranging from 2.5 micrometers to sub-nanometers."
NanoMotion Incorporated, founded in 1998, is a leading developer and
manufacturer of advanced nanometer and sub-nanometer positioning and alignment
systems. Based in Santa Barbara, California, the company manufacturers precision
movement mechanisms at the nanometer scale for use in applications such as fiber
optic assembly, fiber optic testing, semiconductor manufacturing and precision
metrology. Nanometer product and company information is available at its
worldwide web site nanomotion.org.
Adept Technology, Inc., founded in 1983, is America's largest manufacturer of
industrial robots. Adept designs and manufactures intelligent automation
hardware and software products for manufacturers in the electronics, appliances,
telecommunications, pharmaceutical, food processing, and automotive components
industries. The company provides a broad, flexible line of software intensive,
computer-driven automation products for assembly, material handling and
packaging applications. Adept Technology product and service information is
available at its worldwide web site adept.com.
This press release contains certain forward-looking statements. Actual results
may vary as a result of a number of risks and uncertainties. For example, Adept
may not receive the benefits it expects from the acquisition, including the
benefits described above, for a variety of reasons, such as the inability of
Adept to efficiently integrate NanoMotion Incorporated's operations;
unanticipated costs in connection with the acquisition and integration; loss of
employees and disruptions in relationships with customers and suppliers; the
potential delays associated with the development and introduction of new
products or software releases; the potential fluctuations in Adept's quarterly
and annual results of operations; the cyclicality of capital spending of Adept's
customers; Adept's dependence on the continued growth of the intelligent
automation market; the risks associated with sole or single sources of supply
and lengthy procurement lead times; Adept's highly competitive industry; and
rapid technological change within Adept's industry.
For a discussion of risk factors relating to the company's business, see Adept's
Form 10Q for the quarters ended October 2, 1999, January 1, 2000 and April 1,
2000, as well as the company's annual report on Form 10K for the fiscal year
ended June 30, 1999, including the discussion in Management's Discussion and
Analysis of Financial Condition and Results of Operations filed as an exhibit
thereto, filed on September 28, 1999.
The Adept logo is a registered trademark of Adept Technology, Inc. Adept is a
trademark of Adept Technology, Inc. All other trademarks are owned by their
respective companies.
CONTACT: Adept Technology, Inc. |
