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): July 21, 2000
ADEPT TECHNOLOGY, INC.
(Exact Name of Registrant as Specified in Charter)
<TABLE>
<CAPTION>
<S> <C> <C>
California 0-27122 94-2900635
(State or Other Jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
150 Rose Orchard Way 95134
San Jose, California (Zip Code)
(Address of Principal Executive Offices)
</TABLE>
Registrant's telephone number, including area code: (408) 432-0888
None
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events.
This report consists of a press release issued by the Registrant relating to
the consummation of its acquisition of Hexavision Technologies Inc., a Canadian
corporation, by the Registrant on July 21, 2000.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
The following exhibit is filed with this report on Form 8-K:
Exhibit No. Description
----------- -----------
99.1 Press Release of the Registrant issued on July 24, 2000.
<PAGE>
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.
ADEPT TECHNOLOGY, INC.
Date: July 24, 2000 By: /s/Michael W. Overby
--------------------------------
Michael W. Overby
Chief Financial Officer
<PAGE>
EXHIBIT 99.1
For Immediate Release
Press and Industry Analysts: Financial Analysts:
Val Cureton Michael W. Overby
Marketing Communications Manager Chief Financial Officer
408.434.5021 (voice) 408.434.5112 (voice)
408.545.5794 (fax) 408.434.5005 (fax)
[email protected] [email protected]
ADEPT TECHNOLOGY COMPLETES ACQUISITION OF HEXAVISION TECHNOLOGIES
Purchase of Vision Research and Development Company To Extend Adept Vision
Product Lines
San Jose, Calif. - July 24, 2000 - 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 HexaVision
Technologies, a machine vision research and development company based in Sainte
Foy, Quebec, Canada. The company has developed high-performance vision software
for machine and robot guidance for the photonics, telecommunications,
semiconductor and automotive industries. The acquisition closed on Friday, July
21, 2000.
"We expect the addition of HexaVision's technology and expertise to further
extend our best-in-class vision products," said Brian Carlisle, chairman and
chief executive officer of Adept Technology. "HexaVision's core technology, with
techniques to achieve accuracies up to 1/40th of a pixel, brings us new guidance
vision algorithms and increases our performance in critical and demanding
applications such as vision serving for fiber optic assembly."
"The addition of HexaVision should not only enhance our industry leading
ObjectFinder guidance tool but also allow us to enter a new market selling
HexaVision's shrink wrapped PC vision libraries to high volume OEM's and system
integrators," commented Joe Campbell, vice president of marketing for Adept
Technology.
"We are very excited about being a part of Adept Technology and their commitment
to high performance vision for robots and machine control," noted Pat Murphy,
president and chief executive officer of HexaVision. "We believe our technology
is an excellent fit with Adept's vision strategy."
<PAGE>
HexaVision Technologies is a research and development company specializing in
high-performance machine vision software. It launched its first commercial
product, HexSight(TM), in 1999. Hexavision product information is available at
its worldwide web site http://www.hexavision.com.
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 http://www.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 HexaVision Technologies' 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 Adept's business, see Adept's Form
10Q for the quarters ended October 2, 1999, January 1, 2000 and April 1, 2000,
as well as our 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.
40115827
