<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
--------
Date of Report (Date of earliest event reported): JUNE 9, 1998
------------
IBIS TECHNOLOGY CORPORATION
------------------------------------------------------
(Exact name of registrant as specified in its charter)
MASSACHUSETTS 0-23150 04-2987600
- --------------- ------------ -------------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
32 CHERRY HILL DRIVE, DANVERS, MASSACHUSETTS 01923
-----------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (978) 777-4247
--------------
<PAGE> 2
ITEM 5. OTHER EVENTS.
On June 9, 1998, the Registrant publicly disseminated a press release
announcing that it had completed the sale of two Ibis 1000 implanters to IBM
Corporation in a transaction valued at approximately $8 million. The sale to IBM
includes an equipment licensing and development agreement which gives IBM the
right to a royalty-bearing, non-exclusive license to supplement Ibis' equipment
manufacturing capacity. The purchase orders for the two implanters were
previously disclosed in Ibis' press release dated March 5, 1998. The addition of
these two new machines will bring IBM's installed base of Ibis 1000 implanters
to a total of three. The information contained in the press release is
incorporated herein by reference and filed as Exhibit 99.1 hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibit.
99.1 The Registrant's Press Release dated June 9, 1998.
2
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
IBIS TECHNOLOGY CORPORATION
----------------------------
(Registrant)
Date: June 10, 1998 /s/ Martin J. Reid
-----------------------------
Martin J. Reid, President and
Chief Executive Officer
3
<PAGE> 4
EXHIBIT INDEX
Exhibit Sequential
Number Description Page Number
- ------- ----------- -----------
99.1 The Registrant's Press Release 5
dated June 9, 1998
4
<PAGE> 1
EXHIBIT 99.1
[IBIS LETTERHEAD]
CONTACT:
Debra L. Nelson Van Negris/Philip J. Danning
Ibis Technology Corporation Kehoe, White, Savage & Co., Inc.
(978) 777-4247 (212) 888-1616
FOR IMMEDIATE RELEASE:
IBIS TECHNOLOGY CORPORATION COMPLETES
PREVIOUSLY ANNOUNCED EQUIPMENT SALE TO IBM CORPORATION
IN A TRANSACTION VALUED AT APPROXIMATELY $8 MILLION;
SALE OF TWO IBIS 1000 IMPLANTERS TO IBM
INCLUDES EQUIPMENT LICENSING AND DEVELOPMENT AGREEMENT
DANVERS, MA -- JUNE 9, 1998 -- Ibis Technology Corporation (NASDAQ:IBIS), the
leading manufacturer of oxygen implanters and supplier of SIMOX-SOI (Separation
by IMplantation of OXygen/Silicon-On-Insulator) wafers to semiconductor
manufacturers, today announced that it has completed the sale of two Ibis 1000
implanters to IBM Corporation (NYSE:IBM) in a transaction valued at
approximately $8 million -- the largest order in the Company's history. The sale
to IBM includes an equipment licensing and development agreement which gives IBM
the right to a royalty-bearing, non-exclusive license to supplement Ibis'
equipment manufacturing capacity. The purchase orders for the two implanters
were previously disclosed in Ibis' press release dated March 5, 1998. The
addition of these two new machines will bring IBM's installed base of Ibis 1000
implanters to a total of three.
Martin J. Reid, President and Chief Executive Officer of Ibis Technology
Corporation, commented: "We are very pleased with IBM's continued commitment to
our SIMOX-SOI technology. We believe that the sale of these two additional Ibis
1000 implanters to IBM and the accompanying equipment licensing and development
agreement represent significant progress in establishing SIMOX-SOI as an
industry standard.
"As a world leader in the development and application of advanced technologies,
IBM has announced, over the past several months, the use of several technologies
which we believe are complementary with SIMOX-SOI. These revolutionary and
proprietary IBM technologies, together with SIMOX-SOI, have the potential to
meet the performance and economic challenges of the on-going transition to the
next generation of new semiconductors, which will have substantially enhanced
capabilities beyond those offered by conventional technologies.
"It is important to keep in mind that the significance of SIMOX-SOI is that it
offers designers and manufacturers of semiconductors unique features in terms of
performance. The benefits of SIMOX-SOI are ideally suited to devices requiring
low power consumption and high speed. The growth of markets for such devices,
and challenges of low voltage operations and continued device scaling, have
brought SIMOX-SOI, as well as other technologies, to the forefront of these
applications.
"These are exciting and challenging times for both our industry and our Company.
We look forward to working with IBM to expand the industry's acceptance of
SIMOX-SOI technology and continuing the efforts to move into mainstream
commercial production."
-more-
<PAGE> 2
IBIS TECHNOLOGY CORPORATION
June 9, 1998
Page Two
Ibis Technology Corporation is an advanced materials company which manufactures
oxygen implanters and supplies SIMOX-SOI wafers to the semiconductor industry
and whose goal is to be the world leader in volume manufacturing of SIMOX-SOI
wafers. SIMOX-SOI wafers are silicon-on-insulator wafers which enable the
production of integrated circuits with significant advantages over circuits
constructed on conventional bulk silicon or epitaxial wafers. Ibis is promoting
the global acceptance of SIMOX-SOI wafers by continuing to develop advanced
proprietary oxygen implanters and process technology as well as by the formation
of strategic alliances.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: The statements contained in this press release which are not historical
fact are forward-looking statements based upon management's current expectations
that are subject to risks and uncertainties that could cause actual results to
differ materially from those set forth in or implied by forward-looking
statements, including, but not limited to, product demand and market acceptance
risks, general economic conditions, the impact of competitive products,
technologies and pricing, equipment capacity and supply constraints or
difficulties, the cyclical nature of the semiconductor industry, and other risks
described in the Company's Securities and Exchange Commission filings.
NOTE: Information about Ibis Technology Corporation and SIMOX-SOI is available
on Ibis's World Wide Web site on the Internet located at: http//www.ibis.com
# # #
