LIVERMORE, Calif. --(BUSINESS WIRE)--Nov. 9, 2005--Adept Technology, Inc. (OTCBB:ADEO), a leading provider of intelligent vision-guided robotics and global robotics services, today announced that it has received notification from the NASDAQ Listing Qualifications Panel that its common stock has been approved for re-listing on the NASDAQ(R), subject to standard listing requirements. Trading on the NASDAQ National Market System is expected to commence with the opening of trading on Tuesday, November 15, 2005.
Adept Technology has been trading on the OTC Bulletin Board under the trading symbol "ADEO", but will change its trading symbol to "ADEP" on the NASDAQ National Market System.Adept Technology currently has a market capitalization of just under $50 million, based on its closing share price on November 8, 2005 with just over 6.1 million shares outstanding." Our re-listing on the NASDAQ represents a very significant event for the company," according to Robert H. Bucher, Adept Technology's Chairman and CEO.
"We believe that our move back to the NASDAQ is an important step forward for the company and our shareholders, because we believe the stability and coverage of the NASDAQ National Market furthers our efforts to deliver growth and enhanced shareholder value. It also provides both the market visibility and access that are of paramount importance to institutional investors." For more information, please visit the Investor Relations page on Adept Technology's corporate website at www.adept.com .
About Adept Technology, Inc. Adept Technology, Inc. designs, manufactures and markets robotic systems, motion control and machine vision technology for global markets including automotive, consumer electronics, consumer goods, disk drive, food, industrial tooling, medical devices, and pharmaceutical. Adept robots, controllers, and software are used for small parts assembly, material handling and packaging. Adept intelligent automation product lines include industrial robots, configurable linear modules, machine controllers for robot mechanisms and other flexible automation equipment, machine vision, and systems and applications software.
Founded in 1983, Adept Technology is the largest U.S. -based manufacturer of industrial robots.
