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Date ArticleType
8/3/2018 Member News
Advanced Energy Signs Agreement to Acquire LumaSense

Advanced Energy Signs Agreement to Acquire LumaSense

Advanced Energy Industries, Inc. (Nasdaq: AEIS), a global leader in innovative power and control technologies, today announced the signing of an agreement to acquire LumaSense Technologies Holdings, Inc., based in Santa Clara, California. This acquisition adds a line of photonic based measurement and monitoring solutions that are highly synergistic and complementary to Advanced Energy’s line of pyrometry based temperature measurement products (SekidenkoTM).

LumaSense, a leader in the photonic based measurement and monitoring industry, develops and manufactures products that deliver advanced sensing technology to detect, measure, and analyze process conditions in power-intensive industries including semiconductors, industrial materials processing, energy and environmental applications. This technology enables customers to better control critical parameters of thermal and material processes to achieve predictable, reproduceable and sustainable results and improvements in process efficiency and waste reduction.

"The advanced measurement technologies from LumaSense will allow us to expand our sales in core semiconductors and thin film applications and broaden our exposure to a growing set of industrial applications for material processing and power management,” said Yuval Wasserman, president and CEO of Advanced Energy.

Specifically, the acquisition will: 
  • Expand AE’s current electrostatic chuck solutions, including high voltage power supply and electrostatic metrology, with newly added LumaSense’s Fluoroptic® temperature measurement
  • Complement AE’s leading pyrometry solutions (e.g. Sekidenko) with additional fiber optic thermometry for an extended range of semiconductor applications in etch and deposition
  • Provide AE with a robust set of solutions for industrial pyrometry
  • Add new integrated industrial temperature control and metrology applications in both thin films coating and thermal processing
“We see many synergies in our combined global organizations and complementary technical strengths that will benefit our semiconductor and industrial customers.” “The combined capabilities of photonic based metrology and precision power delivery will offer unmatched process control capabilities,” added Wasserman.

“We are excited to join the Advanced Energy family and believe the combined company will enable us to deliver more innovative products and solution synergies to both LumaSense and Advanced Energy customers around the world, further cementing AE’s position as the global leader in innovative power control technology,” said Steve Abely, CEO of LumaSense.

Under the terms of the Merger Agreement, the shareholders of LumaSense will receive cash in the aggregate amount of $85 million on a debt free basis, subject to separate cash and working capital adjustments. The closing of the merger is subject to customary closing conditions, including the approval of German competition authorities. The transaction is expected to close late in the third quarter. Revenues for LumaSense in 2017 were approximately $60 million and the transaction is expected to be immediately accretive on a non-GAAP basis. The company will provide additional information regarding forward-looking expectations at its earnings release.

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