Advanced Power Technology, a supplier of power semiconductors, has acquired the business and assets of PowerSicel, Inc. for $5.4 million in cash and 44,124 APT stock options in exchange for the PowerSicel stock options and 19,402 APT stock options for the retention of key employees. PowerSicel's expertise is in silicon carbide (SiC) and other compound semiconductors, which complements APT's current portfolio of RF products. APT's products operate at frequencies ranging from 1 MHz to 4 GHz and support applications such as semiconductor capital equipment, medical imaging, radar, avionics and wireless communications. The acquisition of PowerSicel, combined with the previous acquisition of Zeus Semiconductor in September 2004, brings to APT a talented team of engineers, eight with PhDs and four with Masters degrees, providing critical mass in compound semiconductor research and development.

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PowerSicel will be renamed Advanced Power Technology Colorado and will operate as the Advanced Technology Center for the company. John Torvik, PowerSicel president and CEO, will now report to Patrick Sireta, APT's president and CEO, as vice president, Boulder Advanced Technology Center.

Patrick Sireta, APT's CEO said, "Our existing and future business, in both RF power and switching power, is based largely on proprietary and innovative products. I'm very excited about the additional technology and new product capability this acquisition brings to us and expect that APT will introduce its first new SiC products by or before the end of 2005."