Applied Materials Inc. has acquired substantially all of the assets, including the intellectual property, of Advent Solar Inc. for an undisclosed cash amount.
Advent Solar, headquartered in Albuquerque, N.M., is a developer of technology for crystalline silicon photovoltaics. Its developments include technology for streamlining module assembly processes and advanced efficiency device architectures. Applied Materials says this acquisition will complement its portfolio of solar PV technologies.
After the close of this transaction, Advent Solar's assets will be integrated with Applied's energy and environmental solutions group.
SOURCE: Applied Materials