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) January 23, 2004
Performance Technologies, Incorporated
(Exact name of registrant as specified in its charter)
Delaware 0-27460 16-1158413
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
205 Indigo Creek Drive, Rochester, N.Y. 14626
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (585) 256-0200
(Former name or former address, if changed since last report)
Item 2. Acquisition or Disposition of Assets
The Registrant, Performance Technologies, Inc. (Nasdaq NM: PTIX), today
announced it has completed the purchase of Mapletree Networks, fulfilling the
closing conditions of the definitive agreement announced on January 12, 2004.
Under the terms of the acquisition, the Norwood, Massachusetts based company
will become a fully owned operating unit of Performance Technologies.
"Our acquisition of Mapletree Networks is a great step forward for both
companies, and further increases our ability to deliver complete platform and
system solutions to an expanded customer base," said Donald Turrell, president
and CEO of Performance Technologies.
Addition of the Mapletree Networks voice, data and fax DSP and RISC processor
product line allows Performance Technologies to better participate in the VoIP
market, a resurging segment fueled by the growth of affordable broadband, and
the ongoing expansion in the wireless market.
About Performance Technologies
Performance Technologies (Nasdaq NM: PTIX) is a leading developer of unified
embedded computing products and system-level solutions for the communications,
military and commercial markets. Serving the industry for over 20 years, our
packet-based products enable equipment manufacturers and carriers to provide
highly available and fully-managed systems with time-to-market, performance and
cost advantages.
Performance Technologies is headquartered in Rochester, New York. Additional
operational and engineering facilities are located in San Diego and San Luis
Obispo, California and Ottawa, Canada. For more information, visit www.pt.com.
Forward Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for certain forward-looking statements. This press release contains
forward-looking statements which reflect the Company's current views with
respect to future events and financial performance, within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and is subject to the safe harbor provisions of those
Sections.
These forward-looking statements are subject to certain risks and uncertainties
and the Company's actual results could differ materially from those discussed in
the forward-looking statements. These risks and uncertainties include, among
other factors, general business and economic conditions, rapid or unexpected
changes in technologies, cancellation or delay of customer orders including
those relating to design wins, changes in the product or customer mix of sales,
delays in new product development, customer acceptance of new products and
customer delays in qualification of products. These statements should be read in
conjunction with the audited Consolidated Financial Statements, the Notes
thereto, and Management's Discussion and Analysis of Financial Condition and
Results of Operations of the Company as of December 31, 2002, as reported in its
Annual Report on Form 10-K and other documents as filed with the Securities and
Exchange Commission.
Note to Editors: Brand or product names are registered trademarks or trademarks
of their respective holders