Amsc accelerates toward profitability with the acquisition of northeast power systems, inc.

Ayer, mass., oct. 05, 2020 (globe newswire) -- amsc (nasdaq: amsc), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid™ and protect and expand the capability of our navy’s fleet, today announced that it has acquired northeast power systems, inc. (nepsi), a private company based in upstate new york that supplies medium voltage metal-enclosed capacitor banks, harmonic filters, fast switching reactive power solutions and surge protection products, and has paid $26 million in cash and additionally the sellers have received 873,657 restricted shares of amsc common stock.
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