Advanced Energy buys Artesyn Embedded Technologies for $400M

FORT COLLINS — Advanced Energy Industries Inc. (Nasdaq: AEIS), a Fort Collins-based power and control technologies firm, has purchased Artesyn Embedded Technologies Inc. from private equity firm Platinum Equity LLC. The total consideration of the deal is about $400 million.

Artesyn Embedded Technologies, also known as Artesyn EP, makes highly engineered, application-specific power supplies for markets such as hyperscale data centers and telecom infrastructure, according to an Advanced Energy news release.

The transaction only involves Artesyn’s Embedded Power business. Artesyn’s Embedded Computing and Consumer Products businesses are not included in the deal.

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With the acquisition, Advanced Energy expects to achieve annual revenues of $1.3 billion.

“Artesyn EP fits perfectly into our diversification strategy by adding a broad set of new growth verticals, industry leading power technologies, deep customer relationships and a world-class team,” Advanced Energy CEO Yuval Wasserman said in a prepared statement. “AE’s semiconductor customers will also benefit from the expanded capabilities, broadened product offerings and increased stability and scale. With the anticipated immediate accretion and future synergies of this acquisition, we are positioning AE for accelerated profitable and sustainable growth.”