NetworkNewsBreaks – AmpliTech Group Inc. (NASDAQ
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Posted On: 11/19/2021 5:07:20 PM
NetworkNewsBreaks – AmpliTech Group Inc. (NASDAQ: AMPG) Enters Strategic Agreement to Acquire Silicon Valley-Based Spectrum Semiconductor Materials
AmpliTech Group (NASDAQ: AMPG) is a designer, developer and manufacturer of state-of-the-art signal-processing components for satellite and 5G communications networks, defense, space and other commercial applications. The company today announced its entry into a definitive agreement to acquire the assets and operations of Spectrum Semiconductor Materials Inc., a rapidly growing global specialty distributor of semiconductor components based in San Jose, California. Subject to satisfaction of certain conditions, the transaction is expected to close within fiscal year 2021. “Spectrum Semiconductors is a perfect fit for advancing AmpliTech’s strategic goals and delivering shareholder value,” AmpliTech CEO Fawad Maqbool said in the news release. “With Spectrum, we will add a well-managed, growing business with a long-term track record for high quality and excellent customer service and the ideal distribution platform for the launch of our MMIC chip solutions. This transaction will allow us to more than triple our current annual revenue run rate, while also being immediately accretive to our bottom line.”
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AmpliTech Group (NASDAQ: AMPG) is a designer, developer and manufacturer of state-of-the-art signal-processing components for satellite and 5G communications networks, defense, space and other commercial applications. The company today announced its entry into a definitive agreement to acquire the assets and operations of Spectrum Semiconductor Materials Inc., a rapidly growing global specialty distributor of semiconductor components based in San Jose, California. Subject to satisfaction of certain conditions, the transaction is expected to close within fiscal year 2021. “Spectrum Semiconductors is a perfect fit for advancing AmpliTech’s strategic goals and delivering shareholder value,” AmpliTech CEO Fawad Maqbool said in the news release. “With Spectrum, we will add a well-managed, growing business with a long-term track record for high quality and excellent customer service and the ideal distribution platform for the launch of our MMIC chip solutions. This transaction will allow us to more than triple our current annual revenue run rate, while also being immediately accretive to our bottom line.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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