Oxford Instruments plc to
acquire FemtoTools AG
Oxford Instruments plc ("the Group",
"Oxford Instruments"), a leading provider of high technology
products and services to industry and scientific research
communities, today announces that it has entered into an agreement
to acquire FemtoTools AG ("FemtoTools"), a developer of
nanoindentation instruments. Completion is subject to certain
closing conditions which are expected to be satisfied within the
next four weeks.
Based in Zurich, Switzerland, and
founded in 2007, FemtoTools specialises in the design and
manufacture of high-speed, precision nanoindenters. These enable
the imaging of mechanical properties of intricate microstructures
for materials research and semiconductor applications. FemtoTools
will become part of Oxford Instruments' Imaging & Analysis
division, with a common global customer base spanning leading
academic institutions and commercial companies. Its products are
highly complementary to Oxford Instruments' imaging and analysis
portfolio, and are used in conjunction with other tools offered by
the Group, including electron microscope micro-analysers and Raman
microscopes.
Under the terms of the acquisition,
Oxford Instruments is paying an initial cash consideration of CHF
17m, on a cash-free, debt-free basis, with a further CHF 7m
consideration conditional on FemtoTools' performance over a
33-month period following completion. FemtoTools' audited revenue
for the 12 months to 31 December 2023 was CHF 10.6m (£9.3m), with
return on sales slightly below the average for the
Group.
Richard Tyson, Chief Executive Officer, Oxford Instruments
plc, said:
"We are delighted that FemtoTools will be joining Oxford
Instruments to add to our armoury of materials analysis techniques.
The specialist capabilities Felix, Simon and the team have
developed will be an excellent addition to our portfolio, enabling
us to provide our customers with an even richer range of
insights."
Felix Beyeler, co-founder of FemtoTools,
said:
"Joining Oxford Instruments is a great opportunity for
FemtoTools to quickly reach new customers who are already using
Oxford Instruments' tools. Oxford Instruments' leading
reputation and international presence is a great springboard for
our next stage of growth and we are super-excited for our future
here."
- Ends
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Issued
for and on behalf of Oxford Instruments plc
Enquiries:
Oxford Instruments
plc
Tel: 01865 393200
Richard Tyson, CEO
Gavin Hill, CFO
Stephen Lamacraft, Head of Investor
Relations
MHP
Tel: 020 3128 8100
Katie Hunt/Eleni Menikou/Veronica
Farah/Tim Rowntree
oxfordinstruments@mhpc.com
Notes to Editors
About Oxford Instruments plc
Oxford Instruments provides academic
and commercial organisations worldwide with market-leading
scientific technology and expertise across its key market segments:
Materials Analysis, Healthcare & Life Science and
Semiconductors.
Innovation is the driving force
behind Oxford Instruments' growth and success, supporting its core
purpose to accelerate the breakthroughs that create a brighter
future for our world. The vigorous search for new ways to make our
world greener, healthier and more productive is driving
unprecedented levels of R&D investment in new materials and
techniques to support productivity and decarbonisation worldwide,
creating a significant opportunity for Oxford Instruments to
grow.
Oxford Instruments holds a unique
position to anticipate global drivers and connect academic
researchers with commercial applications engineers, acting as a
catalyst that powers real world progress.
Founded in 1959 as the first
technology business to be spun out from Oxford University, Oxford
Instruments is now a global company listed on the FTSE250 index of
the London Stock Exchange (OXIG).
For more information, visit
www.oxinst.com