NetworkNewsBreaks – AmpliTech Group Inc. (NASDAQ
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Posted On: 12/16/2021 4:03:41 PM
NetworkNewsBreaks – AmpliTech Group Inc. (NASDAQ: AMPG) Releases Acquisition Update, Anticipated Results
AmpliTech Group (NASDAQ: AMPG), 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, has completed the purchase of the assets and operations of Spectrum Semiconductor Materials Inc. Based in California, Spectrum is a rapidly growing global specialty distributor of semiconductor components. According to AMPG, the transaction should provide significant financial benefits to the company while also adding significant distribution reach. The announcement noted that Spectrum is on track to reach unaudited 2021 revenue $13 million unaudited revenue for 2021. The announcement also observed that Spectrum has an existing powerful distribution platform across the United States, Europe and Asia, which is ideal for AmpliTech’s new line of monolithic, microwave-integrated circuit (“MMIC”) chip designs. “Through the Spectrum acquisition we have substantially increased our revenue base with a well-managed, growing business known for high quality and excellent customer service,” said AmpliTech CEO Fawad Maqbool in the press release. “We expect the transaction will be immediately accretive to our top-and bottom-line financial performance. Spectrum also provides an ideal distribution platform to support the launch and commercialization of our MMIC chip solutions in core end markets of aerospace, defense, automotive and computing. We expect AmpliTech and Spectrum to play a key role in improving the speed and efficiency of 5G cellular networks and medium earth orbit and low earth orbit satellite communications systems around the world.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
AmpliTech Group (NASDAQ: AMPG), 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, has completed the purchase of the assets and operations of Spectrum Semiconductor Materials Inc. Based in California, Spectrum is a rapidly growing global specialty distributor of semiconductor components. According to AMPG, the transaction should provide significant financial benefits to the company while also adding significant distribution reach. The announcement noted that Spectrum is on track to reach unaudited 2021 revenue $13 million unaudited revenue for 2021. The announcement also observed that Spectrum has an existing powerful distribution platform across the United States, Europe and Asia, which is ideal for AmpliTech’s new line of monolithic, microwave-integrated circuit (“MMIC”) chip designs. “Through the Spectrum acquisition we have substantially increased our revenue base with a well-managed, growing business known for high quality and excellent customer service,” said AmpliTech CEO Fawad Maqbool in the press release. “We expect the transaction will be immediately accretive to our top-and bottom-line financial performance. Spectrum also provides an ideal distribution platform to support the launch and commercialization of our MMIC chip solutions in core end markets of aerospace, defense, automotive and computing. We expect AmpliTech and Spectrum to play a key role in improving the speed and efficiency of 5G cellular networks and medium earth orbit and low earth orbit satellite communications systems around the world.”
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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