Company: AzCore Technologies
City: Tucson
Country: USA
url: http://www.azcore.com/azc
Artesyn Technologies (NASDAQ:ATSN ) announced that it has acquired privately held Azcore Technologies based in Tucson, Arizona. Azcore Technologies focuses exclusively on fast growing markets, which require high-efficiency DC-DC converters with a special emphasis on surface mountable board level products. The all cash acquisition, which will be accounted for as a purchase transaction, includes fixed payments of approximately $5.8 million and additional contingent earn out payments through 2001 valued at approximately $8.0 million. The transaction is expected to be accretive to Artesyn's cash earnings net income in 2001.
All Azcore products are intended for use in distributed power architectures in communication applications including computing, mass storage, carrier and enterprise networking, access and wireless infrastructure and fully address the market requirements for low voltage, high efficiency and high operating temperatures. According to Frost & Sullivan Research, the marketplace for these products should grow from $2.8 billion in 2000 to $4.8 billion in 2005. This high demand is fuelled by the growing need for DC-DC converters for Distributed Power Architectures (DPA). Typical applications for Azcore's designs are mobile base stations, xDSL cards and ATM switches.
