Adept Completes Sale of Assets of Silma Cimstation Inspection.Business Editors/High-Tech Writers SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--May 9, 2002 Adept Technology, Inc. (Nasdaq:ADTK), a manufacturer of flexible automation for the telecommunications, fiber optic and semiconductor industries, today announced that it has completed the sale of certain assets related to the Cimstation Inspection portion of its Silma business to a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Metrologic Group SA. The assets were sold for a purchase price of $2 million cash, payable at closing, and additional contingent consideration based upon an earn-out and potential price adjustment over the next twelve months. Adept has retained, and will continue to develop, market and utilize the products and intellectual property of the Silma business that apply to precision parts assembly and facilitate designing for automation, Adept Digital Workcell and Production Pilot. About Metrologic Group Metrologic Group SA specializes in the design and manufacture of three-dimensional control software and electronics. Metrologic's online programming software for Coordinate Measuring Machines (CMM's) is used as a standard by major companies in the automotive, aerospace and other industries. With office in France, Germany, Italy and the USA, Metrologic offers complete CMM (Capability Maturity Model) A process developed by SEI in 1986 to help improve, over time, the application of an organization's supporting software technologies. retrofits, calibration, onsite support, training and maintenance. Founded in 1980 in Grenoble, France, Metrologic is the world's largest independent CMM inspection software development company and its stock is traded on the European New Market (Metrologic Group SA, Euronext Code 7397). More information is available at www.metrologic.fr. About Adept Technology Adept Technology designs, manufactures and markets factory automation components and systems for the fiber optic, telecommunications, semiconductor, automotive, food and durable goods durable goods Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables. industries throughout the world. Adept's robots, controllers, and software products are used for small parts assembly, material handling and ultra precision process applications. Our intelligent automation product lines include industrial robots, configurable linear modules, flexible feeders, semiconductor process components, nanopositioners, machine controllers for robot mechanisms and other flexible automation equipment, machine vision systems and software, application software, and simulation software Simulation software is based on the process of imitating a real phenomenon with a set of mathematical formulas. It is, essentially, a program that allows the user to observe an operation through simulation without actually running the program. . Founded in 1983, Adept is America's largest manufacturer of industrial robots. More information is available at www.adept.com. This press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Actual results could vary for a number of reasons, including but not limited to, the company's highly competitive industry; rapid technological change within the company's industry and general economic and business conditions. For a discussion of additional risk factors relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Adept's business, see Adept's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended June 30, 2001 and Adept's quarterly reports on Form 10-Qs Form 10-Q See 10-Q. for the quarters ended September 29, 2001 and December 29, 2001, including the discussion in Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations contained therein. Note to Editors: The Adept logo is a registered trademark of Adept Technology, Inc. Adept is a trademark of Adept Technology. All other trademarks are owned by their respective companies. |
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