20th Aug 2007 09:12
Oxford Instruments PLC20 August 2007 20th August 2007 Oxford Instruments plc Consistent with the strategy put in place by the Board to acquire complementarytechnologies and double the size of the company over five years and improve EBITmargins by 10% the company today announces an additional acquisition. Acquisition of VeriCold Technologies GmbH. Oxford Instruments plc, the high technology tools and systems company, ispleased to announce the acquisition of VeriCold Technologies GmbH, a worldleader in the manufacture of pulse tube refrigerators. VeriCold has seen stronggrowth recently and fits well with Oxford Instruments' technology portfolio. Theacquisition will strengthen Oxford Instruments' offering in the area of cryogenfree refrigerators (refrigerators that work without liquid helium). Eliminating the need for liquid helium will give Oxford Instruments NanoScienceaccess to growth segments outside its traditional academic research marketsincluding quantum computing and airport security. In addition the acquisition will provide the NanoScience business with analternative source of key components for its existing and planned products. The consideration is an initial payment of £2.0m with an additional £3.7mpayable over two years should the business meet specific growth targets. It is expected that the acquisition will be earnings enhancing in its first fullyear. Dr Jim Hutchins Managing Director of Oxford Instruments NanoScience, said: 'Thisacquisition is part of our on-going strategy to deliver added value to ourcustomers and to focus on the commercialisation of our science. We are delightedthat VeriCold will be joining us, and look forward to working with them todeliver an enhanced service to our customers.' Dr Jens Hohne, Managing Director of VeriCold said: 'We are delighted to be partof the Oxford Instruments group of companies. This will allow us to compete inattractive new markets for our products such as quantum computing and airportsecurity that will drive our next stage of business growth' Enquiries: Oxford Instruments plc Tel: 01865 393 200Jonathan Flint, Chief ExecutiveKevin Boyd, Group Finance Director Hogarth Partnership Tel: 020 7357 9477Rachel HirstAndrew JaquesIan Payne 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 solutionsneeded to advance fundamental nanoscience research and its transfer intocommercial nanotechnology applications. Innovation has been the driving forcebehind Oxford Instruments' growth and success for over 40 years, and itsstrategy is to effect the successful commercialisation of these ideas bybringing them to market in a timely and customer-focused fashion. The first technology business to be spun out from Oxford University over fortyyears ago, Oxford Instruments is now a global company with over 1,300 staffworldwide and a listing on the London Stock Exchange (OXIG). Its objective is tobe the leading provider of new generation tools and systems for the PhysicalScience and Bioscience sectors. This involves the combination of core technologies in areas such as lowtemperature and high magnetic field environments, Nuclear Magnetic Resonance,X-ray electron and optical based metrology, and advanced growth, deposition andetching. Our products, expertise, and ideas address global issues such asenergy, environment, terrorism and health and are part of the next generation oftelecommunications, energy products, environmental measures, security devices,drug discovery and medical advances. VeriCold Technologies GmbH specialises in cutting-edge X-ray spectroscopy andcooling solutions. Driven by innovative markets (semiconductor, biotechnologyand nanotechnology) VeriCold's technology is a key-enabler for new processes inmanufacturing, quality control and research. VeriCold is widely recognised forits expertise in cryogen-free cooling technologies down to the milli-Kelvintemperature range as well as for their high resolution X-ray spectrometerPOLARIS. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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