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GT Advanced acquires Thermal Technology

GT Advanced Technologies announced that it has acquired substantially all of the business of Thermal Technology for purchase consideration consisting of approximately 3.4M shares of GTAT common stock and an earn out. GT does not expect the acquisition to materially impact its CY13 revenue or earnings guidance range. The anticipated revenue contribution from the Thermal Technology business in the balance of FY13 is approximately $9M-$14M. GT expects minimal impact on earnings per share as expenses and the increase in share count will limit the contribution during the initial year of integration.