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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About AmpliTech Group Inc.
AmpliTech Group designs, develops and manufactures state-of-the-art radio frequency (“RF”) components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets as well as systems and component design consulting services. AmpliTech has a 13+ year track record of developing high-performance, custom solutions to meet the unique needs of some of the largest companies in the global industries it serves. The company is proud of the unique skills, experience and dedication of its focused team, which enables AMPG to deliver superior solutions, faster time to market, competitive pricing and excellent customer satisfaction and repeat business. For more information about the company, visit www.AmpliTechInc.com.
NOTE TO INVESTORS: The latest news and updates relating to AMPG are available in the company’s newsroom at https://ibn.fm/AMPG
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