Advanced Energy Industries Inc. has expanded its thin-film product offerings and acquired U.K.-based HiTek Power Group, a privately held provider of high-voltage power solutions.
According to Advanced Energy, HiTek offers high-voltage and custom-built power conversion products ranging from 100 V to 500 kV, targeting applications including semiconductor wafer processing and metrology, scientific instrumentation, mass spectrometry, industrial printing, and analytical x-ray systems for industrial and analytical applications.
Advanced Energy expects the acquisition to be accretive within the next year and accelerate the company's revenue and profitability over time.
