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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
November 25, 1996
Date of Report (date of earliest event reported)
ADAPTIVE SOLUTIONS, INC.
(Exact name of Registrant as specified in its charter)
Oregon 0-22472 93-0981962
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification
No.)
1400 N.W. Compton Drive, Suite 340
Beaverton, Oregon 97006
(Address of principal executive offices) (Zip Code)
(503) 690-1236
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events
On November 25, 1996, Adaptive Solutions, Inc., an Oregon corporation (the
"Registrant"), announced that its Board of Directors has named Daniel J. Meub
President, Chief Executive Officer, and a director of the Company.
Exhibits
99.1 Press Release dated November 25, 1996, relating to the Event.
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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.
Dated: December 19, 1996 ADAPTIVE SOLUTIONS, INC.
By: /s/ Richard L. Boonstra
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Richard L. Boonstra
Controller
(Principal Financial and Accounting
Officer)
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ADAPTIVE SOLUTIONS, INC.
EXHIBIT INDEX
Sequentially
Numbered
Document Page
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99.1 Press Release dated November 25, 1996, relating to 6
the Event.
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===============================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
EXHIBITS
to
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
________________________
ADAPTIVE SOLUTIONS, INC.
________________________
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Press Release
FOR IMMEDIATE RELEASE
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FOR FURTHER INFORMATION, CONTACT:
Fletcher Chamberlin
Investor Relations Counsel
Harris Massey Herinckx
(503) 295-1922
DANIEL MEUB NAMED PRESIDENT AND C.E.O. OF ADAPTIVE SOLUTIONS
Beaverton, OR - November 25, 1996 -- Adaptive Solutions, Inc. (NASDAQ:ADSO)
today announced that is board of directors has named Daniel J. Meub president,
chief executive officer and a director of the company. Meub replaces Dan
Hammerstrom, the company founder who has been interim chief executive officer.
"We are very pleased that Dan has signed on with Adaptive," said C. Scott
Gibson, chairman of the board of Adaptive Solutions. "His software industry
experience, including knowledge of the optical character recognition business,
will be invaluable as Adaptive proceeds with its focus on providing more
complete forms and label processing solutions for its customers. He has the
general management, marketing and technical understanding, as well as the
leadership skills we require."
Mr. Meub joins Adaptive with an extensive career in the management of high
technology companies. Most recently he was the Executive Vice President of
Marketing and Product Development at Now Software, Inc. of Portland, Oregon.
He has held positions of Vice President of Marketing and Product Development at
Calera Recognition Systems of Sunnyvale, California and Vice President/General
Manager and Vice President of Corporate Marketing at Central Point Software.
Meub holds a B.A. degree from Stanford University and an M.B.A. from the
Kellogg Graduate School of Management at Northwestern University.
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"Adaptive has been a strong technology company for years. Their recent
progress and strategic partnerships in the label and forms processing market
shows focus on a business segment and not just technology." said Meub. "I'm
looking forward to applying my general management, software development, and
marketing background to helping them address these hot market opportunities."
Adaptive Solutions, headquartered in Beaverton, Oregon, pioneered data parallel
processing for advanced pattern recognition, image processing and ICR
applications. Adaptive Solutions designs and manufactures forms and label
processing products using the CNAPS architecture for the transportation
markets. The company was founded in 1988, had 1995 sales of $10.7 million and
has 30 employees.
