Fort Collins, Colo.-headquartered Advanced Energy Industries Inc. on July 30 said it agreed to acquire LumaSense Technologies Holdings Inc. for a total cash amount of $85 million on a debt-free basis, subject to separate cash and working capital adjustments.
In a news release, Advanced Energy said the acquisition will add a line of photonic based measurement and monitoring solutions that are compatible to its pyrometry based temperature measurement products. Santa Clara, Calif.-based LumaSense Technologies is a provider of temperature and gas sensing devices.
"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," Advanced Energy CEO President Yuval Wasserman.
The transaction is expected close in the third quarter, subject to closing conditions including the approval of German competition authorities.
Advanced Energy develops power supplies and solutions for semiconductor and industrial manufacturers.