Advanced Energy, a global leader in precision power conversion measurement and control solutions, has announced the acquisition of TEGAM Inc, a leading provider of metrology and calibration instrumentation used in semiconductor and advanced industrial markets. Based in Geneva, Ohio, TEGAM strengthens Advanced Energy’s leadership in process power by adding complementary RF power instruments and calibration systems and further expands its presence in several advanced industrial markets.
Under the terms of the agreement, Advanced Energy paid $18 million in cash for the acquisition, subject to customary adjustments for net working capital. TEGAM generated 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.
“We are pleased to welcome the TEGAM team to Advanced Energy,” said Steve Kelley, President and CEO of Advanced Energy. “As the pure play power leader, we are committed to delivering complete solutions to our customers. With this acquisition, we further extend our leadership in RF power by adding TEGAM’s industry-leading metrology and calibration technologies that contribute to the precise control and repeatability of RF power delivery in plasma etch and deposition processes.”
“We are excited to join the Advanced Energy family,” said Andy Brush, former CEO of TEGAM. “Combined, we will enhance the power precision of our customers’ equipment.”
About Advanced Energy
Advanced Energy 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 four decades to perfecting power for its global customers and is headquartered in Denver, Colorado, USA.