AmpliTech Group Acquires Spectrum Semiconductor Materials

AmpliTech Group, Inc. (NASDAQ: AMPG) has executed a definitive agreement to acquire the assets and operations of Spectrum Semiconductor Materials, Inc., a San Jose–based authorized distributor of semiconductor components. The deal (approximately $8.0M cash plus $1.5M escrow and restricted shares) nearly triples AmpliTech's revenue base, adds a global distribution platform and a record combined order backlog of $11.4M, and is intended to accelerate commercialization of AmpliTech's MMIC chip solutions.