Oxford Instruments PLC
20 August 2007
20th August 2007
Oxford Instruments plc
Consistent with the strategy put in place by the Board to acquire complementary
technologies and double the size of the company over five years and improve EBIT
margins by 10% the company today announces an additional acquisition.
Acquisition of VeriCold Technologies GmbH.
Oxford Instruments plc, the high technology tools and systems company, is
pleased to announce the acquisition of VeriCold Technologies GmbH, a world
leader in the manufacture of pulse tube refrigerators. VeriCold has seen strong
growth recently and fits well with Oxford Instruments' technology portfolio. The
acquisition will strengthen Oxford Instruments' offering in the area of cryogen
free refrigerators (refrigerators that work without liquid helium).
Eliminating the need for liquid helium will give Oxford Instruments NanoScience
access to growth segments outside its traditional academic research markets
including quantum computing and airport security.
In addition the acquisition will provide the NanoScience business with an
alternative source of key components for its existing and planned products.
The consideration is an initial payment of £2.0m with an additional £3.7m
payable over two years should the business meet specific growth targets.
It is expected that the acquisition will be earnings enhancing in its first full
Dr Jim Hutchins Managing Director of Oxford Instruments NanoScience, said: 'This
acquisition is part of our on-going strategy to deliver added value to our
customers and to focus on the commercialisation of our science. We are delighted
that VeriCold will be joining us, and look forward to working with them to
deliver an enhanced service to our customers.'
Dr Jens Hohne, Managing Director of VeriCold said: 'We are delighted to be part
of the Oxford Instruments group of companies. This will allow us to compete in
attractive new markets for our products such as quantum computing and airport
security that will drive our next stage of business growth'
Oxford Instruments plc Tel: 01865 393 200
Jonathan Flint, Chief Executive
Kevin Boyd, Group Finance Director
Hogarth Partnership Tel: 020 7357 9477
Notes to Editors
Oxford Instruments designs, supplies and supports high-technology tools,
processes and solutions with a focus on physical science, bioscience,
environmental and industrial research and applications. It provides solutions
needed to advance fundamental nanoscience research and its transfer into
commercial nanotechnology applications. Innovation has been the driving force
behind Oxford Instruments' growth and success for over 40 years, and its
strategy is to effect the successful commercialisation of these ideas by
bringing them to market in a timely and customer-focused fashion.
The first technology business to be spun out from Oxford University over forty
years ago, Oxford Instruments is now a global company with over 1,300 staff
worldwide and a listing on the London Stock Exchange (OXIG). Its objective is to
be the leading provider of new generation tools and systems for the Physical
Science and Bioscience sectors.
This involves the combination of core technologies in areas such as low
temperature and high magnetic field environments, Nuclear Magnetic Resonance,
X-ray electron and optical based metrology, and advanced growth, deposition and
etching. Our products, expertise, and ideas address global issues such as
energy, environment, terrorism and health and are part of the next generation of
telecommunications, energy products, environmental measures, security devices,
drug discovery and medical advances.
VeriCold Technologies GmbH specialises in cutting-edge X-ray spectroscopy and
cooling solutions. Driven by innovative markets (semiconductor, biotechnology
and nanotechnology) VeriCold's technology is a key-enabler for new processes in
manufacturing, quality control and research. VeriCold is widely recognised for
its expertise in cryogen-free cooling technologies down to the milli-Kelvin
temperature range as well as for their high resolution X-ray spectrometer
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