Advanced Energy acquires Solvix
Solvix, based in Villaz-Saint-Pierre, makes power supplies for the surface-treatment and thin-films industry. The acquisition will allow Fort Collins-based Advanced Energy to expand into new applications and serve a broader customer base worldwide.
Terms of the deal were not disclosed.
With the addition of Solvix's engineering site in Villaz-Saint-Pierre, Advanced Energy also will establish a European engineering and development center for its thin-film industrial products business.
The center will complement Advanced Energy's strategy to move closer to its customers, the company said.
"This acquisition is an important step in our thin-films growth strategy to expand beyond our traditional applications," Advanced Energy Thin Films President Yuval Wasserman said.
Advanced Energy shares were down 2.4 percent to $11.37 in morning trading.
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