TIDMOXIG
RNS Number : 3834I
Oxford Instruments PLC
14 June 2011
14th June 2011
Not for distribution into the United States
Oxford Instruments acquires Omicron NanoTechnology GmbH and
Omniprobe, Inc.
Oxford Instruments plc ("Oxford Instruments"), a leading
provider of high technology tools and systems for industry and
research, announces the acquisition of Omicron NanoTechnology GmbH
(together with its subsidiaries, "Omicron") and Omniprobe, Inc.
("Omniprobe").
Omicron has been acquired for a cash consideration of EUR32.4
million (around GBP28.1 million), on a cash free debt free basis,
to include land and buildings valued at EUR5.0 million (around
GBP4.3 million).
Omicron is a German company based in Frankfurt, with
subsidiaries in the UK, USA, Japan and France, that designs and
produces advanced microscopes and chemical analysis instruments for
nanotechnology research. Its products are used by scientists for
research into the properties of materials using ultra high vacuum
to ensure extreme sample purity. The microscopes can image and move
individual atoms allowing the observation and manufacture of
nanostructures and are used in applications such as research into
next generation computer storage and processing devices.
Omicron generated Earnings Before Interest and Tax ("EBIT") of
EUR3.2 million in the financial year ended 31 December 2010 from
revenue in the same year of EUR37.9 million. As at 31 December
2010, Omicron had gross assets of EUR29.3 million.
Omniprobe has been acquired for an initial cash consideration of
US$19.2 million and a deferred element, payable in two years time
on the terms set out in the agreement, of US$0.8 million (in total
around GBP12.1 million), on a cash free debt free basis.
Omniprobe is a US company based in Dallas, which designs and
produces tools giving customers nano-scale laboratory capabilities
within microscopes. Its products enable probing, manipulation,
selective deposition and etch, and sample preparation at the
nano-scale for customers in research sectors including
nanotechnology and semiconducting devices. A key application is the
use of probes to cut out and remove ultra small pieces of a silicon
wafer for quality control testing in the semiconductor
industry.
Omniprobe generated EBIT of $1.7 million in the twelve months to
31 March 2011 from revenue in the same period of $9.1 million.
The combination of Oxford Instruments and these businesses
strengthens the Group's Nanotechnology Tools sector, through the
addition of a complementary portfolio of products and technologies.
Both acquired businesses share a similar customer base and routes
to market with the existing companies in the Group's Nanotechnology
Tools sector. The acquisitions, together with the Group's existing
capabilities, bring opportunities for the development of integrated
new products.
These acquisitions are expected to be adjusted Earnings Per
Share* enhancing in the current year, notwithstanding the impact of
the proposed equity placing, being announced separately today.
Commenting on the acquisitions, Jonathan Flint, Chief Executive
of Oxford Instruments, stated:
"I'm delighted with these acquisitions, which augment our
growing ability to offer a suite of tools that help our customers
benefit from the opportunities offered by nanotechnology."
*Nothing in this statement should be construed as a profit
forecast or be interpreted to mean that the future earnings per
share, profits, margins or cash flows of Oxford Instruments will
necessarily be greater than the historic published figures.
Enquiries
Oxford Instruments Plc +44 (0)1865 393200
Jonathan Flint
Kevin Boyd
MHP +44 (0)20 3128 8100
Rachel Hirst
Ian Payne
Notes to Editors
Oxford Instruments designs, supplies and supports
high-technology tools and systems with a focus on research and
industrial applications. It provides solutions needed to advance
fundamental physics research and its transfer into commercial
nanotechnology applications. Innovation has been the driving force
behind Oxford Instruments' growth and success for over 50 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 fifty years ago, Oxford Instruments is now a global
company with over 1500 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 research and industrial
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. Oxford Instruments'
products, expertise, and ideas address global issues such as
energy, environment, security and health.
This announcement is not an offer of securities for sale in the
United States or any other jurisdiction. Securities may not be sold
in the United States absent registration or an exemption from
registration. No public offering of securities within the United
States will be conducted in connection with this transaction.
This announcement contains (or may contain) certain
forward-looking statements with respect to certain of the Company's
current expectations and projections about future events. These
statements, which sometimes use words such as "aim", "anticipate",
"believe", "intend", "plan", "estimate", "expect" and words of
similar meaning, reflect the directors' beliefs and expectations
and involve a number of risks, uncertainties and assumptions that
could cause actual results and performance to differ materially
from any expected future results or performance expressed or
implied by the forward-looking statement. Statements contained in
this announcement regarding past trends or activities should not be
taken as a representation that such trends or activities will
continue in the future. The information contained in this
announcement is subject to change without notice and, except as
required by applicable law, the Company does not assume any
responsibility or obligation to update publicly or review any of
the forward-looking statements contained herein. You should not
place undue reliance on forward-looking statements, which speak
only as of the date of this announcement. No statement in this
announcement is or is intended to be a profit forecast or profit
estimate or to imply that the earnings of the Company for the
current or future financial years will necessarily match or exceed
the historical or published earnings of Oxford Instruments.
Notes to Editors
Oxford Instruments aims to pursue responsible development and
deeper understanding of our world through science and technology.
We provide high technology tools and systems for industrial and
research markets, based on our ability to analyse and manipulate
matter at the smallest scale.Innovation has been the driving force
behind Oxford Instruments' growth and success for over 50 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 fifty years ago, Oxford Instruments is now a global
company with over 1,500 staff worldwide and a listing on the London
Stock Exchange (OXIG).
Our objective is to be a leading supplier of next generation
tools and systems for research and industry. 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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