Oxford Instruments plc, United Kingdom, announced the acquisition of WITec Wissenschaftliche Instrumente und Technologie GmbH, Germany, a leading provider of Raman microscopy imaging solutions, for a cash-free, debt-free consideration of €42m, of which €5m is conditional on trading performance over a period of 12 months following completion. Completion is subject to regulatory approval of the transaction by the German Federal Ministry for Economic Affairs and Energy. 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.
Founded in 1997, WITec grew from a small university spin-off into the most innovative Raman imaging company. It made exceptional progress in developing microscopy technology and installed more than a thousand Raman, AFM and SNOM systems worldwide. WITec’s unaudited revenue for the twelve months to 31 December 2020 was €18.2m (£15.7m), 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.”
Ian Wilcock, Managing Director of Oxford Instruments Nanoanalysis and Magnetic Resonance added, “We look forward to working with our new colleagues at WITec to develop new routes to market for their products. WITec’s RISE Raman for SEM product, for example, will ideally complement our own extensive suite of analyzers for electron microscopes.”
Image – Representatives following the official announcement at WITec Headquarters in Ulm, Germany. From left to right: Joachim Koenen (Managing Director at WITec), Alexandra Lipes (HR Generalist at Oxford Instruments), Dirk Keune (Managing Director Germany and Director Sales EMEAI at Oxford Instruments) and Olaf Hollricher (Managing Director at WITec).
For more information:
Oxford Instruments
https://www.oxinst.com
WITec
https://www.witec.de
