GT Advanced Technologies Inc. (GTAT) said Thursday that it has acquired substantially all of the business of Thermal Technology LLC for purchase consideration consisting of about 3.4 million shares of GTAT common stock and an earn out.
Thermal Technology develops and sells a wide range of high temperature thermal and vacuum products used in the fabrication of advanced materials that are deployed across multiple industries including smartphones and touch screens, LED, medical devices, oil and gas and automotive to name a few.
GT has acquired several key products and technologies that will allow it to address new markets with a range of production equipment options that can be optimized around customers' specific needs.
GT does not expect the acquisition to materially impact its calendar year 2013 revenue or earnings guidance range.
The anticipated revenue contribution from the Thermal Technology business in the balance of fiscal year 2013 is about $9 to $14 million. GT expects minimal impact on earnings per share as expenses and the increase in share count will limit the contribution during the initial year of integration.
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