AmpliTech Group (NASDAQ: AMPG), 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, has completed the purchase of the assets and operations of Spectrum Semiconductor Materials Inc. Based in California, Spectrum is a rapidly growing global specialty distributor of semiconductor components. According to AMPG, the transaction should provide significant financial benefits to the company while also adding significant distribution reach. The announcement noted that Spectrum is on track to reach unaudited 2021 revenue $13 million unaudited revenue for 2021. The announcement also observed that Spectrum has an existing powerful distribution platform across the United States, Europe and Asia, which is ideal for AmpliTech’s new line of monolithic, microwave-integrated circuit (“MMIC”) chip designs. “Through the Spectrum acquisition we have substantially increased our revenue base with a well-managed, growing business known for high quality and excellent customer service,” said AmpliTech CEO Fawad Maqbool in the press release. “We expect the transaction will be immediately accretive to our top-and bottom-line financial performance. Spectrum also provides an ideal distribution platform to support the launch and commercialization of our MMIC chip solutions in core end markets of aerospace, defense, automotive and computing. We expect AmpliTech and Spectrum to play a key role in improving the speed and efficiency of 5G cellular networks and medium earth orbit and low earth orbit satellite communications systems around the world.”
To view the full press release, visit https://ibn.fm/xi0tU
About AmpliTech Group Inc.
AmpliTech designs, develops and manufactures state-of-the-art radio frequency (“RF”) components for global satellite communications, telecom (5G and IoT), space, defense and quantum computing markets as well as systems and component-design consulting services. AmpliTech has a 13-plus-year track record of developing high-performance custom solutions to meet the unique needs of some of the largest companies in the global industries that 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, please 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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