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American Superconductor Corporation (AMSC) has announced that it has signed a definitive merger agreement to acquire Power Quality Systems, Inc. (PQS) in an all-stock transaction valued at approximately US$3.8 million.

Based in Pennsylvania, PQS offers reactive compensation products known as Static VAR Compensators, or "SVCs," based on its proprietary thyristor switch technology. These products enhance the reliability of power transmission and distribution grids and greatly improve the quality of power for manufacturing operations. The acquisition is expected to close in April 2007.
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