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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): November 30, 1999
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IBIS TECHNOLOGY CORPORATION
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(Exact name of registrant as specified in its charter)
MASSACHUSETTS 0-23150 04-2987600
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
32 CHERRY HILL DRIVE, DANVERS, MASSACHUSETTS 01923
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (978) 777-4247
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ITEM 5. OTHER EVENTS.
On November 30, 1999, the Registrant publicly disseminated a press
release announcing the completion of a licensing agreement with Mitsubishi
Materials Silicon Corporation (Mitsubishi). Under this agreement, the
Registrant will license its standard and Advantox-Registered Trademark-
SIMOX-SOI wafer fabrication process to Mitsubishi. The Registrant will
receive an initial royalty fee and future royalties based on a percentage of
Mitsubishi's SIMOX-SOI wafer sales. 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 November 30, 1999.
2
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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
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(Registrant)
Date: December 1, 1999 /s/ Debra L. Nelson
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Debra L. Nelson, Chief Financial Officer
3
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EXHIBIT INDEX
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Exhibit Sequential
Number Description Page Number
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<S> <C> <C>
99.1 The Registrant's Press Release 5
dated November 30, 1999
</TABLE>
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EXHIBIT 99.1
IBIS TECHNOLOGY CORPORATION AND MITSUBISHI MATERIALS
SILICON CORPORATION COMPLETE STANDARD AND ADVANTOX
SIMOX-SOI PROCESS LICENSING AGREEMENT
BUSINESS WIRE - NOVEMBER 30, 1999 15:18
DANVERS, Mass.--(BUSINESS WIRE)--Nov. 30, 1999--
Mitsubishi to Provide Additional Source of Ibis Wafers
to Semiconductor Manufacturers
Ibis Technology Corporation (NASDAQ: IBIS), a leading manufacturer and
supplier of SIMOX-SOI (Separation by IMplantation of OXygen /
Silicon-On-Insulator) implantation equipment and wafers for semiconductor
manufacturers, today announced the successful completion of an agreement to
license its standard and Advantox(R) SIMOX-SOI wafer fabrication process to
Mitsubishi Materials Silicon Corporation (Mitsubishi). The Agreement consists
of an initial royalty fee and future royalties based on a percentage of
Mitsubishi's SIMOX-SOI wafer sales.
Ibis Technology previously reported initial negotiations with Mitsubishi last
year to form a comprehensive business arrangement that included a licensing
agreement and permitted Mitsubishi to manufacture Ibis' SIMOX-SOI wafers in
Japan and certain Pacific Rim countries. In addition, Mitsubishi was
permitted to market the wafers worldwide. Concurrently, an Ibis 1000 oxygen
implant system was sold to Mitsubishi, thereby allowing Mitsubishi to
establish a Japanese-based manufacturing facility for the wafers.
"SIMOX-SOI technology is emerging as a key enabling material to drive the
technology roadmaps of several leading integrated circuit manufacturers,
particularly for high performance computers and low power communications
devices," said Martin Reid, President and Chief Executive Officer of Ibis
Technology. "With the adoption of any new technology, access to sufficient
supply and multiple sources are critical issues for manufacturers. This
licensing agreement establishes Mitsubishi as a viable and reliable
additional source for Ibis SIMOX wafers, while also expanding our commercial
market".
SIMOX-SOI wafers are Silicon-On-Insulator wafers that enable the production
of integrated circuits which the Company believes offer significant advantages
over circuits constructed on conventional silicon or epitaxial wafers. These
advantages include improved microprocessing speed, reduced power consumption
and higher temperature operation. Ibis' SIMOX-SOI implantation equipment
consists of advanced proprietary high current Ibis 1000 oxygen implanters.
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Ibis introduced the Advantox(R) portfolio last year in an effort to expand
the range of commercial applications for Ibis SIMOX-SOI wafers and to enhance
the capabilities of the Ibis 1000 implant system.
About Mitsubishi Materials Silicon Corporation
Mitsubishi Materials Silicon is a wholly owned subsidiary of Mitsubishi
Materials, Japan's largest integrated producer of nonferrous metals, cement,
and electronic materials.
About Ibis Technology
Ibis Technology Corporation is headquartered in Danvers, Massachusetts and
maintains an office in Aptos, California. The Company is a premier
manufacturer and supplier of SIMOX-SOI implantation equipment and wafers for
the worldwide semiconductor industry.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: This release may contain forward-looking statements that are subject to
certain risks and uncertainties including statements regarding the role of
SIMOX-SOI in the integrated circuit industry. Such statements are 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, the
impact of the Year 2000 issue, product demand and market acceptance risks,
general economic conditions, the impact of competitive products, technologies
and pricing, the impact of rapidly changing technology, equipment capacity
and supply constraints or difficulties, limitations on the ability to protect
the Company's patents and proprietary technology, the Company's limited
history with regard to sales of implanters, 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' World Wide Web site at http://www.ibis.com.
CONTACT: Ibis Technology Corporation
Debra L. Nelson, 978-777-4247
or
Al Alioto, 978-777-4247 or 831-662-9100
or
The Loomis Group, Inc
Charla Jones, 617-638-0022
[email protected]
