<SUBMISSION>
<ACCESSION-NUMBER>0001104659-09-002552
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20090115
<ITEMS>2.04
<ITEMS>7.01
<FILING-DATE>20090115
<DATE-OF-FILING-DATE-CHANGE>20090115
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AXCELIS TECHNOLOGIES INC
<CIK>0001113232
<ASSIGNED-SIC>3559
<IRS-NUMBER>341818596
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-30941
<FILM-NUMBER>09528830
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>108 CHERRY HILL DRIVE
<CITY>BEVERLY
<STATE>MA
<ZIP>01915
<PHONE>978 232 4001
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>108 CHERRY HILL DRIVE
<CITY>BEVERLY
<STATE>MA
<ZIP>01915
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>EATON SEMICONDUCTOR EQUIPMENT INC
<DATE-CHANGED>20000501
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a09-3262_18k.htm
<DESCRIPTION>8-K
<TEXT>

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<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED
STATES<br>
SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
REPORT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant
to Section&nbsp;13 or 15(d)<br>
of the Securities Exchange Act of 1934</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of earliest event reported):<b> January&nbsp;15, 2009</b></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Axcelis
Technologies,&nbsp;Inc.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
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  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">000-30941</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">34-1818596</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer</font></p>
  </td>
 </tr>
 <tr>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of incorporation)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">File Number)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Identification No.)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="65%" valign="top" style="padding:0in .7pt 0in .7pt;width:65.8%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">108 Cherry Hill Drive, Beverly, Massachusetts</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.96%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">01915</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in .7pt 0in .7pt;width:65.8%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.96%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone number, including area code:&nbsp;&nbsp;<b> (978) 787-4000</b></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former name or former address, if changed since last report.)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check
the appropriate box below if the Form&nbsp;8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .55in;text-indent:-.55in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">&#168;</font>&nbsp;&nbsp; Written communications pursuant
to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</p>

<p style="margin:0in 0in .0001pt .55in;text-indent:-.55in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .55in;text-indent:-.55in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">&#168;</font>&nbsp;&nbsp; Soliciting material pursuant to Rule&nbsp;14a-12
under the Exchange Act (17 CFR 240.14a-12)</p>

<p style="margin:0in 0in .0001pt .55in;text-indent:-.55in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .55in;text-indent:-.55in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">&#168;</font>&nbsp;&nbsp; Pre-commencement communications
pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR
240.14d-2(b))</p>

<p style="margin:0in 0in .0001pt .55in;text-indent:-.55in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .55in;text-indent:-.55in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">&#168;</font>&nbsp;&nbsp; Pre-commencement communications
pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</p>

<p style="margin:0in 0in .0001pt .55in;text-indent:-.55in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="border-bottom:solid windowtext 3.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:1.0pt 0in 1.0pt 0in;">

<p style="border:none;margin:0in 0in .0001pt .55in;padding:0in;text-indent:-.55in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item&nbsp;2.04 Triggering Events that Accelerate or Increase a Direct
Financial Obligation or an Obligation under an Off-balance Sheet Arrangement.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axcelis
Technologies,&nbsp;Inc. (the &#147;Company&#148; or &#147;Axcelis&#148;) and U.S. Bank National
Association, as trustee (the &#147;Trustee&#148;), are parties to an Indenture dated as
of May&nbsp;2, 2006 (the &#147;Indenture&#148;) relating to the Company&#146;s 4.25%
Convertible Senior Subordinated Notes (the &#147;Senior Subordinated Notes&#148;). Under
the Indenture, the Company is required to repay the outstanding principal
amount of the Senior Subordinated Notes plus a maturity premium and accrued
interest (a total payment of approximately $85 million) on January&nbsp;15,
2009.&#160; A copy of the Indenture was
included as Exhibit&nbsp;4.12 to the Company&#146;s Current Report on Form&nbsp;8-K
filed with the Securities and Exchange Commission on May&nbsp;4, 2006.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On
January&nbsp;15, 2009, Axcelis failed to make the required payment under the
Indenture.&#160; Such failure constitutes an
event of default under the Indenture.&#160;
Pursuant to the Indenture and as a result of the failure by Axcelis to
make the required payment, Axcelis is required to pay, upon demand of the
Trustee, the entire overdue amount, plus interest at a rate of 8.0% per annum,
plus certain additional costs and expenses associated with the collection of
such amounts.&#160; Axcelis is actively
engaged in discussions with the sole holder of the Senior Subordinated Notes
(the &#147;Holder&#148;).&#160;&#160; Axcelis will continue
to seek a waiver and forbearance or longer term refinancing from the Holder,
but also continues to be engaged in seeking other sources of financing and
other liquidity initiatives.&#160; </font>There can be no assurance that the Company&#146;s
efforts will be successful or that the Holder or Trustee will not declare all
outstanding obligations under the Indenture to be immediately due and payable
and pursue their rights and remedies under the Indenture.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item&nbsp;7.01 Regulation FD Disclosure</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On
January&nbsp;15, 2009, the Company issued a press release disclosing the
failure to make the required payment under the Indenture and related issues. A
copy of the Company&#146;s press release is furnished with this Current Report on Form&nbsp;8-K
as Exhibit&nbsp;99.1 and incorporated herein by reference.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURE</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:
  January&nbsp;15, 2009</font></p>
  </td>
  <td width="22%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:22.28%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axcelis
  Technologies,&nbsp;Inc.</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:49.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:46.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/
  STEPHEN G. BASSETT</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:46.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stephen
  G. Bassett</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:46.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive
  Vice President</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:46.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and
  Chief Financial Officer</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="375" style="border:none;"></td>
  <td width="29" style="border:none;"></td>
  <td width="138" style="border:none;"></td>
  <td width="206" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

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 <tr>
  <td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:9.02%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit&nbsp;No.</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="89%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:89.48%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit&nbsp;Index</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="9%" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:9.02%;">
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="89%" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:89.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axcelis
  Technologies,&nbsp;Inc. press release dated January&nbsp;15, 2009</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;99.1</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.72%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Company Contact:</font></i></b></h3>
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  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="34%" valign="top" style="padding:0in .7pt 0in .7pt;width:34.62%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Investor Contact:</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.84%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Agency Contact:</font></i></b></h3>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.72%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Maureen Hart</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="34%" valign="top" style="padding:0in .7pt 0in .7pt;width:34.62%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Stephen Bassett</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.84%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Heather Smith</font></i></b></h3>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.72%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Axcelis Technologies,&nbsp;Inc.</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="34%" valign="top" style="padding:0in .7pt 0in .7pt;width:34.62%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Axcelis Technologies,&nbsp;Inc.</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.84%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Loomis Group</font></i></b></h3>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.72%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Tel: +1 (978) 787 4266</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="34%" valign="top" style="padding:0in .7pt 0in .7pt;width:34.62%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Tel: +1 (978) 787 4000</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.84%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Tel: +1 (617) 309 8005</font></i></b></h3>
  </td>
 </tr>
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  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.72%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Fax: +1 (978) 787 4275</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="34%" valign="top" style="padding:0in .7pt 0in .7pt;width:34.62%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Fax: +1 (978) 787 9133</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.84%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Fax: +1 (617) 638 0033</font></i></b></h3>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.72%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Maureen.hart@axcelis.com</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="34%" valign="top" style="padding:0in .7pt 0in .7pt;width:34.62%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">investor.relations@axcelis.com</font></i></b></h3>
  </td>
  <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.92%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:normal;">&nbsp;</font></i></b></h3>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.84%;">
  <h3 style="font-weight:bold;margin:0in -.5in .0001pt 0in;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">smithh@loomisgroup.com</font></i></b></h3>
  </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AXCELIS PROVIDES UPDATE ON
CONVERTIBLE SENIOR SUBORDINATED<br>
NOTES, FINANCING AND STRATEGIC ALTERNATIVES</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BEVERLY,
Mass., January&nbsp;15, 2009 (GLOBAL NEWSWIRE) &#151; </font><font size="2" style="font-size:10.0pt;">Axcelis
Technologies,&nbsp;Inc. (Nasdaq: ACLS) today announced that it is continuing to
engage in negotiations on financing and strategic alternatives that will serve
the best interests of the company following a missed payment on Convertible
Senior Subordinated Notes that was due on January&nbsp;15, 2009.&#160; The payment consisted of the outstanding
principal on $75 million of 4.25% Convertible Senior Subordinated Notes plus a
maturity premium of 11.125% and accrued interest for a total of approximately
$85 million. As such, Axcelis is continuing discussions with its note holder as
well as other lenders.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axcelis emphasized that it </font><font size="2" style="font-size:10.0pt;">is highly
focused on preserving the company&#146;s financial health, including </font><font size="2" style="font-size:10.0pt;">aggressively reducing expenses.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Like a number of companies impacted
by the freeze up in the global credit markets, Axcelis has been hindered in the
refinancing of its debt. &#160;Axcelis&#146;
efforts in this regard also have been impacted by </font><font size="2" style="font-size:10.0pt;">the protracted decline in
the semiconductor industry and the discussions with Sumitomo Heavy Industries,
Ltd. regarding an acquisition of Axcelis last year, among other factors.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">More information can be found in the
Form&nbsp;8-K that Axcelis filed with the Securities and Exchange Commission at
www.sec.gov.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About Axcelis Technologies,&nbsp;Inc. </font></b></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axcelis
Technologies,&nbsp;Inc., headquartered in Beverly, Massachusetts, provides
innovative, high-productivity solutions for the semiconductor industry. Axcelis
is dedicated to developing enabling process applications through the design,
manufacture and complete life cycle support of ion implantation and cleaning
systems. Axcelis also licenses its 50% owned joint venture, SEN Corporation, an
SHI and Axcelis Company, to manufacture and sell certain implant products in
Japan. The company&#146;s Internet address is: http://www.axcelis.com.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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