Advanced Power Technology Completes Previously Announced Acquisition From Microsemi RF Products, Inc.Business Editors BEND, Ore.--(BUSINESS WIRE)--June 3, 2002 Advanced Power Technology, Inc. (Nasdaq:APTI APTI Association for Preservation Technology International APTI Air Pollution Training Institute ) -- Acquisition is in line with strategic focus on high power, high frequency power semiconductors for RF and switching applications. -- Transaction consolidates leadership position in bipolar RF power transistors for avionics and radar applications and expands presence in non-cellular communications applications. Advanced Power Technology, Inc. (Nasdaq:APTI), a leading supplier of high performance power semiconductors used in the conditioning and control of electrical power, today announced that it has acquired for $12.2 million in cash the product lines and certain assets of Microsemi RF Products, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Microsemi Corporation. Based in Montgomeryville, PA Microsemi RF Products Inc. produces and sells bipolar (1) See bipolar transmission. (2) One of two major categories of transistor; the other is "field effect transistor" (FET). Although the first transistors and first silicon chips were bipolar, most chips today are field effect transistors wired as CMOS logic, which RF transistors that are used in a variety of radar, avionics avionics (ā'vēŏn`ĭks), electronic instruments used in air or space flight; also the design and production of such instruments. Early planes had few instruments, but as aviation and aircraft became more complex, so did instrumentation. , communications and general purpose applications. The acquisition is part of APT's ongoing strategy to expand its product and technology portfolio in the radio frequency (RF) power market through both internal development and acquisitions. Patrick Sireta, APT's Chief Executive Officer commented, "We expect our RF business to contribute strongly to our long term revenue and profit growth. When combined with APT's recent acquisition of GHz Technology, this transaction positions APT (Automatic Programmed Tools) A high-level programming language used to generate instructions for numerical control machines. 1. (language) APT - Automatically Programmed Tools. 2. (company) APT - Audio Processing Technology. as an emerging dominant supplier in bipolar RF power transistors for avionics, radar and non-cellular communications applications. With these recent acquisitions we now have one of the strongest RF technical teams in the industry, and a strong portfolio of leadership RF technologies and products, MOS (1) (Metal Oxide Semiconductor) See MOSFET. (2) (Mean Opinion Score) The quality of a digitized voice line. It is a subjective measurement that is derived entirely by people listening to the calls and scoring the results from and bipolar, aimed at high power applications in a vast array of markets such as semiconductor capital equipment, medical, industrial, avionics, radar and non-cellular communications," concluded Mr. Sireta. About Advanced Power Technology Advanced Power Technology is a leading supplier of high performance power semiconductors used in the conditioning and control of electrical power. The Company's products are used in communications and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the infrastructure equipment, semiconductor capital equipment, as well as medical, industrial, and military and aerospace systems. Important information about Advanced Power Technology, Inc., including press releases and SEC filings, are available at no charge through the Company's Web site at www.advancedpower.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Except for historical information contained herein, the matters discussed in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. APT cautions that such statements are subject to a number of uncertainties, and actual results may differ materially. Factors that could affect the Company's actual results include the ability of subcontractors to meet their delivery commitments; unfavorable changes in industry and competitive conditions; the Company's mix of product shipments; the accuracy of customers forecasts; the effectiveness of the Company's efforts to control and reduce costs; and other uncertainties disclosed in the Company's S-1 filing with the Securities and Exchange Commission dated August 7, 2000, Annual Report on Form 10K filed on March 29, 2002 and other periodic filings made by the Company. The Company assumes no obligation to update the information in this release. |
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