Advanced Energy acquires California company

FORT COLLINS — Advanced Energy Industries Inc. (Nasdaq: AEIS), a global leader in power and control technologies based in Fort Collins, will acquire LumaSense Technologies Holdings Inc., based in Santa Clara, Calif.

This acquisition adds a line of photonic-based measurement and monitoring solutions that complement Advanced Energy’s line of pyrometry-based temperature measurement products (Sekidenko), the company said in the announcement.

LumaSense 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. The technology enables customers to better control critical parameters of thermal and material processes to achieve predictable and sustainable results that can be replicated.

“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 pyrometry solutions (e.g. Sekidenko) with additional fiber optic thermometry for an extended range of semiconductor applications in etch and deposition.
• Provide AE with 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,” said 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.

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