JULY 12-- As the drive for more complex, smaller, lighter, and more-efficient end products increases, there is a need for more advanced-yield-management solutions by original equipment manufacturers, electronic manufacturing service companies, and high-density interconnect manufacturers. Photon Dynamics Inc. (San Jose, CA; www.photondynamics.com), a provider of integrated yield-management solutions for the display and electronics markets, believes that its acquisition of privately held Intelligent Reasoning Systems Inc. (IRSI; Austin, TX; www.irsinc.com) will further expand its product portfolio, intellectual property, development, sales, service, and application resources to support these markets.

The transaction is expected to close this month and is subject to approval by IRSI shareholders and other closing conditions. For accounting purposes, the acquisition is intended to be treated as a purchase transaction.

Thu Jul 12 10:01:00 CDT 2001