Vishay Intertechnology, Inc. announced the acquisition of the worldwide business and substantially all of the U.S. assets of Applied Thin-Film Products, a California-based, privately-held manufacturer of custom, build-to-print thin film substrates for the microwave, fiber optic and life science industries. Concurrently, a Chinese subsidiary of Applied Thin-Film Products entered into an agreement to sell certain property and equipment to a subsidiary of Vishay at a later date. The total acquisition price is approximately $26.5 million, subject to customary post-closing adjustments.
“I am pleased to welcome Applied Thin-Film Products to the Vishay family,” said Vishay Intertechnology’s Executive Chairman and Chief Business Development Officer, Marc Zandman. “The acquisition of the business brings with it products and technologies that significantly enhance and strengthen our thin film products portfolio, especially for thin film circuits and interconnect products.”
“Vishay Intertechnology’s Growth Plan includes niche acquisitions of companies and businesses that complement our existing product portfolio and strengthen our competitiveness,” said Dr. Gerald Paul, Vishay Intertechnology’s president and chief executive officer. “Our acquisition of Applied Thin-Film Products complements well our existing thin film business. It is another step in our strategy to grow Vishay’s specialty businesses.”