Advanced Power Technology to acquire PowerSicel

December 29, 2004 – Advanced Power Technology has entered into a definitive agreement to acquire PowerSicel, a Colorado-based company focused on RF power-utilizing silicon carbide for $5.4 million in cash.

Under the terms of the agreement, APT will issue approximately $5.4 million in cash in exchange for all of the existing shares of PowerSicel, 60,961 APT stock options in exchange for the PowerSicel stock options, and 19,400 APT stock options for the retention of key employees

APT is a supplier of high-performance power semiconductors used in the conditioning and control of electrical power for both switching and RF applications.

The products to be developed by the two companies will address target applications for avionics, radar, broadcast, satellite communication and wireless communications, and applications in power switching.


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