AMSC acquires Northeast Power Systems for $26M plus stock

AMSC acquired Northeast Power Systems, Inc. (NEPSI), a supplier of medium voltage capacitor banks and harmonic filters, for $26 million in cash and 873,657 restricted shares of AMSC common stock. The acquisition aims to expand AMSC's grid business offerings in the industrial sector.

“The acquisition of NEPSI directly aligns with AMSC's strategic priorities to accelerate profitable growth independent of its wind business, broaden its product offerings and expand both market reach and market share.”globenewswire.com

• 1 source
• globenewswire.comAMSC Accelerates toward Profitability with the AcquisitionAMSCOct 5, 2020

Summarized from public sources; check the original articles before acting on it.