ADVANCED ENERGY INDUSTRIES INC acquired Airity Technologies, Inc. for $19.6 million total fair value of purchase consideration ($14.3M cash at closing + $4.5M AE common stock + $1.5M indemnity holdback, net of $0.7M settlement of payables), a transaction completed in June 2024, structured as combination (cash + Advanced Energy common stock).
Airity Technologies, Inc. operates in High voltage power conversion. Airity Technologies, Inc., acquired via purchase of 100% of its capital stock and accounted for as a business combination. The acquisition added high voltage power conversion technologies and products, broadening AE's range of targeted applications within the Semiconductor Equipment and Industrial and Medical markets.
This acquisition added high voltage power conversion technologies and products, broadening our range of targeted applications within the Semiconductor Equipment and Industrial and Medical markets.
High voltage power conversion technology broadening targeted applications in semiconductor equipment and industrial/medical markets Integrated into Advanced Energy's high voltage / semiconductor and industrial-medical power portfolio
On June 20, 2024, we acquired 100% of the issued and outstanding shares of capital stock of Airity Technologies, Inc. We accounted for this transaction as a business combination. This acquisition added high voltage power conversion technologies and products, broadening our range of targeted applications within the Semiconductor Equipment and Industrial and Medical markets.Advanced Energy, FY2025 Form 10-K, Note 2 Acquisition
Advisory firms were not disclosed for this transaction.