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Advanced Energy Industries
|Dr. Joseph Stach
RF Power Products
AE To Acquire RF Power products in Exchange of Stock: Merger Will Add Approximately $34 Million to Advanced Energy’s Revenue Base
FORT COLLINS, Colorado/VOORHEES, New Jersey (June 2, 1998)
—Advanced Energy Industries, Inc. (Nasdaq:AEIS) today announced that it has agreed to acquire RF Power Products, Inc. (ASE:RFP) in an exchange of stock. RF Power Products shareholders will receive between 3,500,000 and 4,000,000 shares of common stock in Advanced Energy with an aggregate value of approximately $55.0 million depending upon the price of Advanced Energy stock at the time of closing, subject to specified adjustments. A definitive agreement has been approved by the board of directors of both companies. Consummation of the transaction is subject to approval by RF Power Products shareholders, antitrust clearances and certain other conditions. RF Power Products’ fiscal 1997 revenues were $33.8 million.