Item 1.02 Termination of a Material Definitive Agreement.
On May 15, 2009, Columbus Acquisition Corp. ("Columbus") and Integrated Drilling Equipment Company ("IDE") mutually agreed to terminate the Agreement and Plan of Merger, dated December 15, 2008 (the "Merger Agreement"), by and among Columbus, IDE, IDE Acquisition, LLC and Stephen D. Cope, pursuant to a letter of termination. The material terms and conditions of the Merger Agreement were previously disclosed in Columbus's Current Report on Form 8-K filed on December 15, 2008, and, to the extent required by Item 1.02 of Form 8-K, those descriptions are incorporated by reference. Item 8.01 Other Events.
On May 15, 2009, Columbus issued a press release announcing the termination of the Merger Agreement and the cancellation of its special meeting of its stockholders to vote on the proposed amendments to Columbus's certificate of incorporation, which had been scheduled for 12:00 p.m., Eastern time, on Friday, May 15, 2009. The press release announcing the termination of the Merger Agreement and the cancellation of the special meeting is attached as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.

(d) Exhibits Exhibit No. Description 99.1 Press Release issued by Columbus, dated May 15, 2009, announcing the termination of the Merger Agreement and the cancellation of the special meeting.

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