Advanced Energy Buys Privately-held Airity Technologies For Undisclosed Sum

(RTTNews) - Advanced Energy Industries, Inc. (AEIS) on Monday announced the acquisition of Airity Technologies, a provider of high voltage power conversion products and technologies for applications in semiconductor, industrial, and medical markets.

The financial terms of the transaction were not disclosed.

Steve Kelley, CEO of Advanced Energy, said: "The acquisition of Airity Technologies extends our technology leadership and will accelerate our innovation in the precision power conversion market."

With this, Airity adds a portfolio of Gallium Nitride based high frequency, power conversion and pulsing technologies, which enable a step function improvement in power density and response time.

Advanced Energy expects the acquisition to be immaterial to 2024 financial forecasts.