Oxford Instruments PLC Oxford Instruments agrees to buy WITec GmbH (0027C)
June 16 2021 - 01:00AM
UK Regulatory
TIDMOXIG
RNS Number : 0027C
Oxford Instruments PLC
16 June 2021
16 June 2021
Oxford Instruments plc reaches agreement to buy WITec GmbH
Oxford, 16 June 2021; Oxford Instruments plc ("the Group"), a
leading provider of high-technology solutions, information and
services for industry and research, today announces the acquisition
of WITec Wissenschaftliche Instrumente und Technologie GmbH, a
leading provider of Raman microscopy imaging solutions, based in
Ulm, Germany, for a cash-free, debt-free consideration of EUR42m,
of which EUR5m is conditional on trading performance over a period
of 12 months following completion. Completion is subject to
regulatory approval of the transaction by the Federal Ministry for
Economic Affairs and Energy (BMWi) in Germany. These conditions are
expected to be satisfied during the second quarter of the Group's
financial year.
The acquisition is in line with Oxford Instruments' strategy of
supporting customers in attractive end markets, enhancing its
portfolio of solutions for a range of applications including
semiconductors, life science and advanced materials. It will enable
WITec GmbH to build on its success to date, benefitting from the
global reach of Oxford Instruments, alongside its complementary
technology and application knowledge.
WITec's unaudited revenue for the twelve months to 31 December
2020 was EUR18.2m (GBP15.7m), with return on sales below the
average for the Group.
Dr Ian Barkshire, Chief Executive, Oxford Instruments said, "We
are delighted to welcome WITec colleagues to Oxford Instruments.
WITec's leading Raman microscopy solutions are a great complement
to our existing products and techniques. Raman microscopy is an
important and widely used technique across academic and commercial
customers for fundamental research, applied R&D and quality
assurance / quality control. The technique is used in conjunction
and alongside our existing characterisation solutions and broadens
the capabilities that we can bring to existing customers whilst
expanding opportunities into new market areas. Providing a broader
range of solutions helps us support our customers in facilitating a
greener economy, increased connectivity, improved health and
achieve leaps in scientific understanding."
Dr. Joachim Koenen and Dr. Olaf Hollricher, WITec's founders and
managing directors said: "We look back on a 24-year track record of
making WITec a prosperous and innovative Raman imaging company. Now
that we are joining the Oxford Instruments Group, we look forward
to continuing this success together with a strong partner to grow
even faster and to use the existing synergies to further expand our
reach into the range of markets that will benefit from our wide
product portfolio."
- Ends -
Issued for and on behalf of Oxford Instruments
Oxford Instruments plc Tel: 01865 393200
Ian Barkshire, Chief Executive
Gavin Hill, Group Finance Director
MHP Communications Tel: 020 3128 8572
Katie Hunt/ James Midmer/ Florence Mayo
oxfordinstruments@mhpc.com
About Oxford Instruments plc
Oxford Instruments designs, supplies and supports
high-technology tools and systems with a focus on research and
industrial applications. Innovation has been the driving force
behind Oxford Instruments' growth and success for 60 years,
supporting its core purpose to address some of the world's most
pressing challenges.
The first technology business to be spun out from Oxford
University, Oxford Instruments is now a global company and is
listed on the FTSE250 index of the London Stock Exchange (OXIG).
Its strategy focuses on being a customer-centric, market-focused
Group, understanding the technical and commercial challenges faced
by its customers. Key market segments include Semiconductor &
Communications, Advanced Materials, Healthcare & Life Science,
and Quantum Technology.
Oxford Instruments' portfolio includes a range of core
technologies in areas such as low temperature and high magnetic
field environments; Nuclear Magnetic Resonance; X-ray, electron,
laser and optical based metrology; atomic force microscopy; optical
imaging; and advanced growth, deposition and etching.
Oxford Instruments is helping enable a greener economy,
increased connectivity, improved health and leaps in scientific
understanding. Their advanced products and services allow the
world's leading industrial companies and scientific research
communities to image, analyse and manipulate materials down to the
atomic and molecular level, helping to accelerate R&D, increase
manufacturing productivity and make ground-breaking
discoveries.
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