8-K

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 27, 2001

ADEPT TECHNOLOGY, INC.
(Exact Name of Registrant as Specified in Charter)

Delaware
(State or Other Jurisdiction of
Incorporation) 0-27122
(Commission File Number) 94-2900635
(IRS Employer
Identification No.)

150 Rose Orchard Way
San Jose, California
(Address of Principal Executive Offices) 95134
(Zip Code)

Registrant’s telephone number, including area code: (408) 432-0888

None

(Former Name or Former Address, if Changed Since Last Report)

TABLE OF CONTENTS

	Item 5. Other Events.
	Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
SIGNATURES
Exhibit Index
EXHIBIT 99.1

Item 5. Other Events.

      This report is being filed by the Registrant to announce that it has signed a definitive agreement to acquire privately held CHAD Industries, Inc. in exchange for a combination of equity and cash to be paid out over three years. Completion of the acquisition remains subject to obtaining required approvals and other standard closing conditions. The press release issued by the Registrant relating to the announcement is filed as Exhibit 99.1 to this report.

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 June 28, 2001.

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: June 29, 2001 By: /s/ Michael W. Overby
Michael W. Overby
Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release of the Registrant issued on June 28, 2001.

EX-99.1 2 f73807ex99-1.txt EXHIBIT 99.1 1 EXHIBIT 99.1 FOR IMMEDIATE RELEASE PRESS AND INDUSTRY ANALYSTS: FINANCIAL ANALYSTS: Val Cureton Maili Bergman Marketing Communications Manager Director of Investor Relations 408.434.5021 (voice) 408.434.5158 (voice) 408.545.5794 (fax) 408.434.5002 (fax) val.cureton@adept.com maili.bergman@adept.com ADEPT TECHNOLOGY TO ACQUIRE CHAD INDUSTRIES PURCHASE INTENDED TO INCREASE ADEPT'S FIBER OPTIC AUTOMATION CAPACITY SAN JOSE, CALIFORNIA -- June 28, 2001 - Adept Technology, Inc. (NASDAQ: ADTK), a manufacturer of flexible automation for the telecommunications, fiber optic and semiconductor industries, today announced that it has signed a definitive agreement to acquire privately held CHAD Industries, Inc., located in Orange, California ("CHAD"), in exchange for a combination of equity and cash to be paid out over three years. Completion of the acquisition remains subject to obtaining required approvals and other standard closing conditions. Adept reports that this latest strategic acquisition is expected to be immediately accretive to revenue and earnings. "The acquisition of CHAD is the culmination of a successful 17 year relationship," stated Brian R. Carlisle, Chairman and Chief Executive Officer of Adept. "We intend to leverage this added capacity to expand our delivery of semi-automatic and fully-automated assembly and process solutions for fiber optic component manufacturers." The acquisition of CHAD is the latest step in Adept's ongoing photonics automation strategy. CHAD's extensive experience developing and building standardized precision workcells based on Adept software, controls and robot systems was key in the acquisition decision. Adept plans to leverage CHAD's expertise in small part feeding, precision tooling design, and the handling of odd-form components to add capacity in photonics automation. CHAD's initial role within Adept following completion of the acquisition will be to develop process module tooling for both Adept NanoLine stage products and NanoCell automated process ready platforms. In addition, Adept plans to support and grow CHAD's existing odd-form standard machine business, which has been the cornerstone of CHAD for the last two decades. ABOUT CHAD Founded in 1973 CHAD Industries was established as a design and manufacturing company specializing in custom automation. As the company advanced, new products and methods for solving complex manual assembly processes were developed. These custom machines served many high production industries 2 ranging from food packaging to printing to the electronics industry. This diverse design and production experience has given the company invaluable knowledge and expertise, which proved key to their pioneering the use of robots for electronic odd-form assembly and provided the foundation for current product and business development. For over two decades, CHAD has mastered off-the-shelf modular component tools, which can be applied and integrated into virtually any system configuration required to meet the needs of its customers. ABOUT ADEPT Adept Technology designs, manufactures and markets factory automation components and systems for the fiber optic, telecommunications, semiconductor, automotive, food and durable goods 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. 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 that involve a number of risks and uncertainties. The company's actual results could differ materially from those expressed in any of the above forward-looking statements for a variety of reasons, including but not limited to: the risks associated with potential acquisitions, including integration risks associated with our proposed acquisition of CHAD and our acquisition of BYE/Oasis, Pensar-Tucson, NanoMotion, HexaVision, the company's dependence on the continued growth of the intelligent automation market; the potential delays associated with the development and introduction of new products or software releases; the cyclicality of capital spending of the company's customers; the risks associated with sole or single sources of supply and lengthy procurement lead times; the company's highly competitive industry; rapid technological change within the company's industry; the lengthy sales cycles for the company's products; and the company's dependence on retention and attraction of key employees. For a discussion of additional risk factors relating to Adept's business, see the company's annual report on Form 10-K for the fiscal year ended June 30, 2000 and Adept's quarterly reports on Form 10-Q for the quarters ended September 30, 2000, December 30, 2000 and March 31, 2001, including Management's Discussion and Analysis of Financial Condition and Results of Operations contained therein. ### The Adept logo is a registered trademark of Adept Technology, Inc. Adept is a trademark of Adept Technology. -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

   1
                                                                    EXHIBIT 99.1


FOR IMMEDIATE RELEASE

PRESS AND INDUSTRY ANALYSTS:                     FINANCIAL ANALYSTS:
Val Cureton                                      Maili Bergman
Marketing Communications Manager                 Director of Investor Relations
408.434.5021 (voice)                             408.434.5158 (voice)
408.545.5794 (fax)                               408.434.5002 (fax)
val.cureton@adept.com                            maili.bergman@adept.com


ADEPT TECHNOLOGY TO ACQUIRE CHAD INDUSTRIES

PURCHASE INTENDED TO INCREASE ADEPT'S FIBER OPTIC AUTOMATION CAPACITY

SAN JOSE, CALIFORNIA -- June 28, 2001 - Adept Technology, Inc. (NASDAQ: ADTK), a
manufacturer of flexible automation for the telecommunications, fiber optic and
semiconductor industries, today announced that it has signed a definitive
agreement to acquire privately held CHAD Industries, Inc., located in Orange,
California ("CHAD"), in exchange for a combination of equity and cash to be paid
out over three years. Completion of the acquisition remains subject to obtaining
required approvals and other standard closing conditions. Adept reports that
this latest strategic acquisition is expected to be immediately accretive to
revenue and earnings.

"The acquisition of CHAD is the culmination of a successful 17 year
relationship," stated Brian R. Carlisle, Chairman and Chief Executive Officer of
Adept. "We intend to leverage this added capacity to expand our delivery of
semi-automatic and fully-automated assembly and process solutions for fiber
optic component manufacturers."

The acquisition of CHAD is the latest step in Adept's ongoing photonics
automation strategy. CHAD's extensive experience developing and building
standardized precision workcells based on Adept software, controls and robot
systems was key in the acquisition decision. Adept plans to leverage CHAD's
expertise in small part feeding, precision tooling design, and the handling of
odd-form components to add capacity in photonics automation. CHAD's initial role
within Adept following completion of the acquisition will be to develop process
module tooling for both Adept NanoLine stage products and NanoCell automated
process ready platforms. In addition, Adept plans to support and grow CHAD's
existing odd-form standard machine business, which has been the cornerstone of
CHAD for the last two decades.

ABOUT CHAD

Founded in 1973 CHAD Industries was established as a design and manufacturing
company specializing in custom automation. As the company advanced, new products
and methods for solving complex manual assembly processes were developed. These
custom machines served many high production industries

   2

ranging from food packaging to printing to the electronics industry. This
diverse design and production experience has given the company invaluable
knowledge and expertise, which proved key to their pioneering the use of robots
for electronic odd-form assembly and provided the foundation for current product
and business development. For over two decades, CHAD has mastered off-the-shelf
modular component tools, which can be applied and integrated into virtually any
system configuration required to meet the needs of its customers.

ABOUT ADEPT

Adept Technology designs, manufactures and markets factory automation components
and systems for the fiber optic, telecommunications, semiconductor, automotive,
food and durable goods 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. 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 that involve a
number of risks and uncertainties. The company's actual results could differ
materially from those expressed in any of the above forward-looking statements
for a variety of reasons, including but not limited to: the risks associated
with potential acquisitions, including integration risks associated with our
proposed acquisition of CHAD and our acquisition of BYE/Oasis, Pensar-Tucson,
NanoMotion, HexaVision, the company's dependence on the continued growth of the
intelligent automation market; the potential delays associated with the
development and introduction of new products or software releases; the
cyclicality of capital spending of the company's customers; the risks associated
with sole or single sources of supply and lengthy procurement lead times; the
company's highly competitive industry; rapid technological change within the
company's industry; the lengthy sales cycles for the company's products; and the
company's dependence on retention and attraction of key employees.

For a discussion of additional risk factors relating to Adept's business, see
the company's annual report on Form 10-K for the fiscal year ended June 30, 2000
and Adept's quarterly reports on Form 10-Q for the quarters ended September 30,
2000, December 30, 2000 and March 31, 2001, including Management's Discussion
and Analysis of Financial Condition and Results of Operations contained therein.


                                       ###

The Adept logo is a registered trademark of Adept Technology, Inc. Adept is a
trademark of Adept Technology.