EXHIBIT 99.1

Ibis Technology Appoints Martin Reid CEO and Selects Strategic Consultant

    DANVERS, Mass.--(BUSINESS WIRE)--Dec. 7, 2007--Ibis Technology
Corporation (Nasdaq NM: IBIS), a leading provider of SIMOX-SOI
implantation equipment to the worldwide semiconductor industry, today
announced that Martin J. Reid, the Company's former CEO who had been
serving as the Company's Executive Chairman, has resumed the role of
President and Chief Executive Officer, following the unexpected death
of Charles McKenna last month. In conjunction with his appointment the
Board of Directors has extended Mr. Reid's employment contract for one
additional year.

    The Company has also selected Axia Advisors LLC to advise and act
as a consultant to Ibis Technology as it considers a broad range of
strategic growth alternatives and alternative business strategies,
designed to optimize shareholder value. No assurances can be given
that this advisory work will result in any specific transaction and
the Company does not intend to comment further publicly with respect
to this analysis unless a specific transaction or alternative is
approved by its Board.

    Commenting on the matter, Martin J. Reid said "While we continue
to believe that SIMOX SOI technology is both viable and should be the
preferred low cost SOI technology over time, we also have a number of
additional potential paths to follow that we intend to fully explore
with the benefit of business and financial expertise provided by Axia
Advisors."

    About Ibis Technology

    Ibis Technology Corporation is a leading provider of oxygen
implanters for the production of SIMOX-SOI
(Separation-by-Implantation-of-Oxygen Silicon-On-Insulator) wafers for
the worldwide semiconductor industry. Headquartered in Danvers,
Massachusetts, Ibis Technology is traded on the Nasdaq Market under
the symbol IBIS. Information about Ibis Technology Corporation and
SIMOX-SOI is available on Ibis' web site at www.ibis.com.

    About Axia Advisors, LLC

    Axia Advisors, LLC is a boutique investment bank that specializes
in providing actionable strategic advisory, M&A and investment advice
to public and private industrial technology companies and investors.
For more information please visit www.axia-partners.com/axia_advisors.

    "Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995

    This release contains express or implied forward-looking
statements regarding, among other things, (i) the strategic advisory
arrangements described above and the potential for any specific
alternative or transaction, of which no assurances can be given, (ii)
the Company's ability to conduct its operations in a manner consistent
with its current plan and existing capital resources or otherwise to
obtain additional implanter orders or to secure financing to continue
as a going concern, (iii) the timing of SUMCO's ramping to production
quantities on their i2000 implanters (iv) customer interest in and
demand for, and market acceptance of, the Company's SIMOX-SOI
technology, (v) attaining implanter improvements to the degree and in
the timeframe necessary to meet customer expectations, (vi) the
Company's plan to focus on supplying implanters to wafer
manufacturers, (vii) the Company's expectations regarding future
orders for i2000 implanters, (viii) the adequacy of the Company's cash
resources for continuing and future operations, and (ix) the adoption
rate of SOI technology. Such statements are neither promises nor
guarantees, but rather are subject to risks and uncertainties which
could cause actual results to differ materially from those described
in the forward-looking statements. Such risks and uncertainties
include, but are not limited to, cessation as a going concern due to
the depletion of the Company's cash reserves at an unanticipated rate
combined with an inability to obtain customer orders or to secure
financing, future continued migration to SOI technology and market
acceptance of SIMOX, the level of demand for the Company's products,
the Company's ability to pursue and maintain further strategic
relationships, partnerships and alliances with third parties, the
Company's ability to protect its proprietary technology, the potential
trends in the semiconductor industry generally, the ease with which an
i2000 can be installed and qualified in fabrication facilities, the
likelihood that implanters, if ordered, will be qualified and accepted
by customers without substantial delay, modification, or cancellation,
in whole or in part, the likelihood and timing of revenue recognition
on such transactions, the impact of competitive products, technologies
and pricing, the impact of rapidly changing technology, the
possibility of further asset impairment and resulting charges,
equipment capacity and supply constraints or difficulties, the
Company's limited history in selling implanters, general economic
conditions, and other risks and uncertainties described in the
Company's Securities and Exchange Commission filings from time to
time, including but not limited to, the Company's Annual Report on
Form 10-K for the year ended December 31, 2006. All information set
forth in this press release is as of December 7, 2007, and Ibis
undertakes no duty to update this information unless required by law.

    CONTACT: Ibis Technology Corporation
             William J. Schmidt, 978-777-4247
             Chief Financial Officer