Applied Microsystems Announces Intent to Acquire REBA Technologies, Inc.

4/24/2002 - Applied Microsystems Corp. (NASDAQ: APMC) today announced that it has entered into a non-binding letter of intent to acquire REBA Technologies, Inc - an Austin, TX-based start-up company. REBA is focused on developing technology to enhance the operation of server farms for enterprises, Application Server Providers and Network Service Providers. The consideration for the proposed acquisition consists of 350,000 shares of Applied Microsystems' common stock plus a $200,000 non-interest-bearing note due two years after the closing date. Applied would not acquire any personnel in the transaction, and the proposed transaction remains subject to the completion of due diligence and definitive documentation.

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