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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) March 9, 2000
IMMERSION CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 000-27969 94-3180138
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(State or other jurisdiction of (Commission File No.) (I.R.S. Employer
incorporation) Identification No.)
2158 Paragon Drive
San Jose, California 95131
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(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (408) 467-1900
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Item 2. Acquisition or Disposition of Assets.
(a) On March 9, 2000, Immersion Corporation (the "Company") completed
the purchase of all of the shares of (i) Haptic Technologies Inc. ("Haptech"),
a company duly incorporated under the Canada Business Corporations Act, and
(ii) 9039-4115 Quebec, Inc. ("Holdco"), a company formed for the purpose of
holding shares of Haptech common stock (collectively, the "Shares"), for
approximately $7 million, consisting of 141,538 shares of the Company's Common
Stock and $338,000 paid in cash, pursuant to a Share Purchase Agreement (the
"Agreement") dated February 28, 2000. The Company used working capital and
newly issued shares to fund the acquisition. The acquisition will be accounted
for using the purchase method.
Pursuant to the terms of the Agreement, the Company purchased the
Shares from Holdco, Alain Pare, Societe Innovatech du Grand Montreal
("Innovatech"), Visuaide, Inc. ("Visuaide") and Fonds en Transferts de
Technologies Industrielles ("FTTI").
There are no material relationships between holders of the Shares and the
Company or any of its affiliates, any director or officer of the Company, or any
associate of any such director or officer.
On March 13, 2000, the Company announced the completion of the
acquisition. The press release issued by the Company is attached as Exhibit
99.1.
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Item 7. Financial Statements and Exhibits.
(a) Financial Statements of Business Acquired.
The Company has determined that financial statements for Haptic
Technologies Inc. are not required to be filed as part of this Report on Form
8-K.
(b) Pro Forma Financial Information.
The Company has determined that pro forma financial information is not
required to be filed as part of this Report on Form 8-K.
(c) Exhibits.
2.1 Share Purchase Agreement with Haptic Technologies Inc. ("Haptech")
and 9039-4115 Quebec, Inc. ("Holdco") and the Shareholders of
Haptech and Holdco and 511220 N.B. Inc. ("Purchaser") dated February
28, 2000 (incorporated by reference to Exhibit 2.2 of the Company's
Form 10-K for the year ended December 31, 1999).
99.1 Press Release issued by the Company on March 13, 2000.
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SIGNATURE
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, thereto duly authorized.
IMMERSION CORPORATION
By: /s/ LOUIS ROSENBERG
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Louis Rosenberg, Ph.D.
President and Chief Executive
Officer
Date: March 24, 2000
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EXHIBIT INDEX
Exhibit Description
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2.1 Share Purchase Agreement with Haptic Technologies Inc. ("Haptech")
and 9039-4115 Quebec, Inc. ("Holdco") and the Shareholders of
Haptech and Holdco and 511220 N.B. Inc. ("Purchaser") dated February
28, 2000 (incorporated by reference to Exhibit 2.2 of the Company's
Form 10-K for the year ended December 31, 1999).
99.1 Press Release issued by the Company on March 13, 2000.