Advanced Energy to buy Artesyn Embedded Power in $400M deal

|About: Advanced Energy Industries,... (AEIS)|By:, SA News Editor

Advanced Energy Industries (NASDAQ:AEIS) agrees to acquire the Embedded Power business of Artesyn Embedded Technologies from Platinum Equity for ~$400M.

AEIS says the deal creates a premier global power conversion company with enabling critical power technologies andover $1.B in revenue, based on 2018 results.

AEIS expects more than $20M in annualized synergies, driving projected $0.80/share in earnings accretion in 18-24 months and targeting to reach long-term accretion of at least $1.50/share.

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