3 June 2021
Advanced Energy acquires TEGAM for $18m
Advanced Energy Inc of Denver, CO, USA (which designs and manufactures power conversion, measurement and control solutions) has acquired Tegam Inc of Geneva, OH, USA (a provider of metrology and calibration instrumentation used in semiconductor and advanced industrial markets) for $18m in cash (subject to customary adjustments for net working capital).
TEGAM generated about $10m in revenue for its fiscal year ending October 2020. Advanced Energy expects the acquisition to be accretive to 2021 earnings on a non-GAAP basis.
Advanced Energy says that TEGAM strengthens its process power business by adding complementary RF power instruments and calibration systems and further expanding its presence in several advanced industrial markets.
“We are committed to delivering complete solutions to our customers,” states Advanced Energy’s president & CEO Steve Kelley. “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,” he adds.
“Combined, we will enhance the power precision of our customers’ equipment,” says says Andy Brush, former CEO of TEGAM.