8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                    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 13, 2006
                                                  --------------


                           Ibis Technology Corporation
                           ---------------------------
             (Exact name of registrant as specified in its charter)



Massachusetts                      0-23150                   04-2987600
- -------------                      -------                   ----------
(State or other jurisdiction       (Commission               (IRS Employer
of incorporation)                  File Number)              Identification No.)


32 Cherry Hill Drive, Danvers, Massachusetts  01923
- ---------------------------------------------------
(Address of principal executive offices)     (Zip Code)


Registrant's telephone number, including area code:  (978) 777-4247
                                                     --------------


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

     [ ] Written communications pursuant Rule 425 under the Securities Act
         (17 CFR 230.425)

     [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
         (17 CFR 240.14a-12)

     [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
         Exchange Act (17 CFR 240.14d-2(b))

     [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
         Exchange Act (17 CFR 240.13e-4(c))





ITEM 8.01.  OTHER EVENTS

On March 13, 2006 Ibis Technology Corporation announced final customer
acceptance for the Ibis i2000 oxygen implanter that was ordered by a leading
silicon wafer manufacturer in January, 2005 and shipped in April of 2005. A copy
of the press release is being furnished as Exhibit 99.1 to this Current Report
on Form 8-K. This information shall not be deemed "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or incorporated by reference in any filing under the Securities Act of
1933, as amended, or the Exchange Act, except as shall be expressly set forth by
specific reference in such a filing.

ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.

(a) Not applicable.

(b) Not applicable.

(c) Exhibits

        Exhibit 99.1.    Press Release Announcing Final Acceptance of the Ibis
                         i2000 Oxygen Implanter








                                   SIGNATURES


         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 hereunto duly authorized.


                                            IBIS TECHNOLOGY CORPORATION
                                            ---------------------------

Date:  March 13, 2006                     /s/William J. Schmidt
                                 ------------------------------------------
                                 William J. Schmidt Chief Financial Officer











                                  EXHIBIT INDEX
                                  -------------

Exhibit
Number                     Description
- ------                     -----------

Exhibit 99.1.            Press Release Announcing Final Acceptance of the Ibis
                         i2000 Oxygen Implanter

EX-99.1

                                                                    Exhibit 99.1


Ibis Technology Announces Final Customer Acceptance of Oxygen
Implanter; SUMCO grants final acceptance for their first Ibis i2000
implanter, while their second i2000 prepares for factory acceptance
testing at Ibis

    DANVERS, Mass.--(BUSINESS WIRE)--March 13, 2006--Ibis Technology
Corporation (Nasdaq NM: IBIS), a leading provider of SIMOX-SOI
implantation equipment to the worldwide semiconductor industry, today
announced final customer acceptance of the Ibis i2000 oxygen implanter
that was ordered by Sumitomo Mitsubishi Silicon Corporation (SUMCO),
the world's second largest silicon wafer manufacturer. The implanter
was ordered in January 2005 and shipped to that customer in Japan in
June 2005.
    Martin J. Reid, president and chief executive officer of Ibis
Technology Corporation, said, "We are pleased that the SUMCO implanter
has completed the final acceptance process, and we expect that SUMCO
will begin using this tool for producing 300-millimeter SIMOX-SOI
wafers immediately. This will provide an additional, highly qualified
source of supply for SIMOX-SOI wafers to help satisfy the increasing
demand."
    Reid explained that final acceptance for this particular tool was
delayed because Ibis agreed to hold the machine to a higher standard
of performance for final acceptance in Japan than for factory
acceptance in Massachusetts. "This gained significant ground on final
product quality goals we had planned to reach later this year, but it
took some time to accomplish. In addition, we experienced a disruption
of the operation of the machine at SUMCO just as we were about to
begin the final qualification runs. The delay was caused by a
mechanical fault in a pressure sensor that caused a shutdown of the
machine. The problem has been diagnosed and documented, repairs have
been made and the tool now has successfully completed the final
acceptance tests at the higher standard of performance."
    SUMCO ordered a second Ibis i2000 implanter, as announced in
October 2005. This second implanter now is being prepared for factory
acceptance testing at Ibis. The two implanter orders from SUMCO
followed on the heels of an implanter order from another leading
silicon wafer supplier that was received in 2004. According to Reid,
Ibis believes that these orders substantiate the Company's position
that it is the world's silicon wafer manufacturers who are best
positioned to meet the increasing demand for production volumes of SOI
wafers for the global semiconductor industry. "Economics will drive
the success or failure of SIMOX-SOI," said Reid, "and from our
perspective, the economics should favor a supplier that controls the
entire SOI substrate fabrication process, including manufacturing the
starting silicon wafer that represents a significant part of the total
cost of each SOI wafer."
    Reid added, "It remains our goal to be the dominant supplier of
oxygen implantation equipment to the world's wafer manufacturers so
they can, in turn, be the most efficient and cost-effective suppliers
of SOI wafers to the semiconductor industry."
    SUMCO has requested that Ibis expedite delivery of the second
implanter, which is expected to complete the factory acceptance
process in the second quarter of this year, with final customer
acceptance expected in the third or fourth quarter of this year.
    As a result of SUMCO's final acceptance of their first i2000, Ibis
plans to recognize revenue of approximately $6 million for this
implanter in the current fiscal quarter, ending March 31. Revenue of
approximately $7 million for the second SUMCO implanter will be
recognized after final customer acceptance, which is expected in the
third or fourth quarter of this year.

    About SIMOX-SOI

    Silicon-on-Insulator (SOI) refers to a substrate technology where
an insulating layer is formed within a silicon wafer, isolating the
thin top layer of silicon where the active transistors will be
manufactured from the rest of the silicon substrate. The thin buried
oxide layer acts as a barrier that can reduce electrical leakage from
the transistors, resulting in semiconductor devices that are faster
and more power efficient. These benefits make SOI a valuable
technology for chipmakers producing IC's for high performance
applications such as servers and workstations, portable and desktop
computers, wireless communication devices, video game consoles and
automotive electronics.
    Separation-by-IMplantation-of-OXygen (SIMOX) refers to a technique
used to manufacture SOI wafers where an oxygen implanter and an
annealing process are used to create a very thin insulating layer
within the wafer, just below a thin layer of silicon on the top of the
wafer. Ibis believes that, compared to competing technologies, the
SIMOX process offers high quality SOI wafers at competitive costs in
production quantities.

    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, the company maintains an additional office in Aptos,
California. Ibis Technology is traded on the Nasdaq National Market
under the symbol IBIS. Information about Ibis Technology Corporation
and SIMOX-SOI implanters is available on Ibis' web site at
www.ibis.com.

    "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 expected factory and
on-site acceptance of the second i2000 implanter ordered by SUMCO in
October 2005, (ii) attaining implanter improvements to the degree and
in the timeframe necessary to meet customer expectations, (iii) the
timing and likelihood of revenue recognition on the SUMCO implanters,
(iv) the timing and likelihood of revenue recognition and payment for
SUMCO's second order, (v) the timing of SUMCO's ramping to production
quantities on the first i2000 implanter (vi) customer interest in and
demand for, and market acceptance of, the Company's SIMOX-SOI
technology, (vii) the ability of the wafer manufacturer's to produce
sufficiently low cost SIMOX SOI wafers, utilizing both our SIMOX
equipment and technology as well as other equipment manufacturer's
tools, (viii) the Company's belief that wafer manufacturers will
become the primary suppliers of SIMOX-SOI wafers to the chipmaking
industry, (ix) 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, (x) the Company's plan to
focus on supplying implanters to wafer manufacturers, (xi) the
Company's expectations regarding future orders for i2000 implanters,
(xii) the adequacy of the Company's cash resources for continuing and
future operations, and (xiii) 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, 2004. All information set forth in this press release is as of
March 13, 2006, and Ibis undertakes no duty to update this information
unless required by law.

    CONTACT: Company Contact:
             Ibis Technology Corporation
             William J. Schmidt, 978-777-4247
             or
             IR Agency Contact:
             Bill Monigle Associates
             Bill Monigle, 603-424-1184