AEIS - Advanced Energy buys Tegam for $18 million in cash

Advanced Energy (AEIS) has acquired Tegam, a metrology and calibration instrumentation provider used in semiconductor and advanced industrial markets.The purchase adds metrology and calibration instrumentation to Advanced Energy’s RF process power solutions in semiconductor and advanced industrial markets.Advanced Energy paid $18 million in cash for the acquisition as per the terms, subject to customary adjustments for net working capital.Tegamgenerated approximately $10 million in revenue for its fiscal year ending October 2020.The company expects the acquisition to be accretive to 2021 earnings on a non-GAAP basis.Press Release

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Advanced Energy buys Tegam for $18 million in cash