Advanced Energy Acquires Versatile Power
January 08 2021 - 7:58AM
Business Wire
AE expands presence in the growing medical
market with field-proven low power RF technology
Advanced Energy (Nasdaq: AEIS), a global leader in highly
engineered, precision power conversion, measurement, and control
solutions, today announced that it has completed the acquisition of
Versatile Power, a Campbell, California-based provider of radio
frequency (RF) and programmable power supplies for medical and
industrial applications. This strategic acquisition further expands
AE’s presence in the medical market by adding proven technologies,
deep customer relationships, and a talented technical team with
expertise in medical design and a medical-certified manufacturing
center.
“Versatile Power brings a long history in providing RF power
supplies for therapeutic applications, consistent with our strategy
to accelerate our presence in the medical equipment industry," said
President and CEO Yuval Wasserman. “We continue to use strategic
acquisitions to expand our reach and content by enhancing our
portfolio of products and technologies.”
The Company expects this small acquisition to be accretive to
earnings within this year. Terms of the acquisition were not
disclosed; management will provide more details during the fourth
quarter 2020 earnings conference call in February.
About Advanced Energy
Advanced Energy (Nasdaq: AEIS) is a global leader in the design
and manufacturing of highly engineered, precision power conversion,
measurement and control solutions for mission-critical applications
and processes. AE’s power solutions enable customer innovation in
complex applications for a wide range of industries including
semiconductor equipment, industrial, manufacturing,
telecommunications, data center computing and healthcare. With
engineering know-how and responsive service and support around the
globe, the company builds collaborative partnerships to meet
technology advances, propel growth for its customers and innovate
the future of power. Advanced Energy has devoted more than three
decades to perfecting power for its global customers and is
headquartered in Denver, Colorado, USA. For more information, visit
www.advancedenergy.com.
Advanced Energy | Precision. Power. Performance.
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version on businesswire.com: https://www.businesswire.com/news/home/20210108005021/en/
Brian Smith Advanced Energy Industries, Inc. (970) 407-6555
ir@aei.com
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