Axcelis Technologies, Inc. (Axcelis) designs, manufactures and services ion implantation, dry strip and other processing equipment used in the fabrication of semiconductor chips. The Company sells to semiconductor chip manufacturers worldwide. The ion implantation business comprised approximately 76.7% of its revenue during the year ended December 31, 2012, with the remaining 23.3% of revenue derived from its dry strip and other processing systems. In addition to equipment, the Company provides aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. In December 2012, the Company sold to Lam Research Corporation (Lam) the intellectual property rights and other assets relating to its dry strip systems product line.