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Slide #7. Advanced Energy Industries, Inc. — HiTek Power Group
Advanced Energy Industries, Inc. (NASDAQ:AEIS)
HiTek Power Group
Advanced Energy Industries, Inc. (Nasdaq:AEIS) today announced it has acquired HiTek Power Group (HiTek), a privately-held provider of high voltage power solutions. Based in the United Kingdom, the company offers a comprehensive portfolio of high voltage and custom built power conversion products ranging from 100V to 500kV designed to meet the demanding requirements of OEMs worldwide. These products target applications including semiconductor wafer processing and metrology, scientific instrumentation, mass spectrometry, industrial printing, and analytical x-ray systems for industrial and analytical applications. HiTek's unique product architecture, encapsulation technology and control algorithms combined with its deep knowledge of its customer-specific applications have made it a leading provider of critical, high-end, high voltage power solutions. We expect this acquisition to be accretive within the next year and accelerate Advanced Energy's revenue and profitability over time.
Advanced Energy Industries designs, manufactures, sells and supports precision power products that transform, refine and modify the raw electrical power from the utility and convert it into various types of usable power that is predictable, repeatable and customizable. Co.'s power products are solutions that are designed to deliver precise power, control and measurements of processes used in a set of applications in semiconductor device manufacturing, thin film deposition of materials, thermal power control, instrumentation and gas detection and monitoring. Co.'s embedded power products are solutions designed to provide power in applications across industrial technology applications.
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Buy (2.89 out of 4)