ADVANCED ENERGY INDUSTRIES INC acquired Versatile Power, Inc. for $6.8 million total purchase price ($7.0M total fair value of consideration including $1.5M contingent and $0.95M holdback; net of cash acquired), a transaction completed in December 2020, structured as all cash (with holdback and contingent consideration).
Versatile Power, Inc. operates in RF and programmable power supplies / medical power, is based in Campbell, California, USA. Versatile Power, Inc., based in Campbell, California, acquired via purchase of 100% of its capital stock. Added RF and programmable power supplies for medical and industrial applications, proven technologies, deep customer relationships, expertise in medical design, and a medical-certified manufacturing center.
This acquisition added RF and programmable power supplies for medical and industrial applications to our product portfolio and further expands our presence in the medical market by adding proven technologies, deep customer relationships, expertise in medical design, and a medical-certified manufacturing center.
Proven medical-power technologies, deep customer relationships, medical-design expertise, and a medical-certified manufacturing center Integrated into Advanced Energy's medical and industrial power portfolio
On December 31, 2020, we acquired 100% of the issued and outstanding shares of capital stock of Versatile Power, Inc., which is based in Campbell, California. This acquisition added RF and programmable power supplies for medical and industrial applications to our product portfolio and further expands our presence in the medical market.Advanced Energy, FY2021 Form 10-K, Note 2 Acquisitions
Advisory firms were not disclosed for this transaction.