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Slide #65. 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 power conversion products that convert power into various usable forms. Co.'s products enable manufacturing processes that use thin film technology for products such as semiconductor devices, flat panel displays, thin film renewables, architectural glass, optical coating and consumer products decorative and functional coating. Co. also supplies thermal instrumentation products for temperature measurement and control for multiple industrial markets. Co.'s network of global service support centers provides repair services, conversions, improvements, and refurbishments and used equipment to companies using its products.
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Hold (2.29 out of 4)
(ranked lower than approx. 89% of all stocks covered)
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