GT Advanced Technologies Acquires Thermal Technology
GT Advanced Technologies (GTAT) acquired substantially all of the business of Thermal Technology LLC for approximately 3.4 million shares of GTAT common stock and an earn out. Santa Rosa, Calif.-based Thermal Technology develops and sells a wide range of high-temperature thermal and vacuum products used in the fabrication of advanced materials. According to GTAT, the acquisition of the Thermal Technology business adds a number of important products and technologies to its rapidly diversifying portfolio. The acquisition included spark plasma sintering (SPS) technology, which allows dense ceramics to be obtained under uniform heating at relatively low temperatures and in short processing times. SPS technology is expected to have a wide range of applications, including medical, sputtering targets, space applications and thermoelectric convertors for hybrid electric cars.