Advanced Energy Industries Acquires RF Power Products

Advanced Energy Industries has agreed to acquire RF Power Products, Inc. in an exchange of stock. Through the acquisition, RF Power Products shareholders will receive between 3,500,000 and 4,000,000 shares of common stock in Advanced Energy. This stock will have an aggregate value of approximately $55 million.

A definitive agreement has been approved by the board of directors of both companies. Completion of the transaction is subject to approval by RF Power Products shareholders and antitrust clearances. When the acquisition is complete, RF Power Products will operate as a wholly-owned subsidiary of Advanced Energy Industries.

RF Power Products designs and manufactures RF power systems, matching networks, and peripheral products for original equipment manufacturers working in the semiconductor, commercial coating, flat panel display, and analytical instrumentation markets.

Advanced Energy Industries develops power delivery systems. These systems are employed in the manufacturing of semiconductors, data storage media, flat panel displays, and other products using thin-film technology.