Oxford Instruments PLC Technology and Devices International, Inc. ("TDI") (8334Z)
22 3월 2012 - 4:01PM
UK Regulatory
TIDMOXIG
RNS Number : 8334Z
Oxford Instruments PLC
22 March 2012
Release date: 22 March 2012
Technology and Devices International, Inc. ("TDI")
Oxford Instruments plc ("Oxford Instruments") has formed a
strategic partnership with Ostendo Technologies Inc ("Ostendo"), to
exploit an emerging technology which has the potential to improve
the manufacturing of High Brightness LEDs.
Oxford Instruments has transferred its ownership of TDI, a
wholly owned subsidiary which develops hydride vapour phase epitaxy
(HVPE) technology for use in the production of High Brightness
LEDs, to Ostendo, a privately owned company based in California.
Oxford Instruments has received 0.65 million shares of Ostendo
common stock plus $0.65 million in cash of which $0.15 million will
be paid six months after the closing date. Oxford Instruments will
also receive a royalty when certain HVPE reactor sales are
realised.
Under the terms of the transaction, Oxford Instruments is
subject to certain restrictions on the transfer of the stock in
Ostendo and consequently until a liquidity event, will ascribe no
value to the Ostendo stock acquired. The cash component of the
proceeds of the disposal will be used in Oxford Instruments'
existing business.
The gross assets which are the subject of the transaction are
$0.6 million. TDI had a loss after development expenses in the year
to March 2011 of $4.3 million including amortisation of acquired
intangible assets of $1.9 million.
Chief Executive, Jonathan Flint, said "The capability to produce
semiconductor materials using HVPE has the potential to improve
products used in solid state lighting and displays. Ostendo are
well placed to use this technology and Oxford Instruments is
delighted that it will continue to be developed by them. This
partnership with Ostendo should allow us to maximise value from our
technology investment in HVPE."
- Ends -
Issued for and on behalf of Oxford Instruments plc
For further information please contact:
Oxford Instruments Plc +44 (0) 1865 393200
Jonathan Flint, Chief Executive
Kevin Boyd, Group Finance Director
Lynn Shepherd, Group Director of Communications
MHP +44 (0) 20 3128 8100
Rachel Hirst/Ian Payne
Notes to Editors
About Oxford Instruments plc
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 2000 staff worldwide and is listed on the FTSE250
index of 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, high magnetic field and ultra high vacuum
environments, Nuclear Magnetic Resonance, X-ray, electron and
optical based metrology, and advanced growth, deposition and
etching.
Oxford Instruments aims to pursue responsible development and
deeper understanding of our world through science and technology.
Its products, expertise, and ideas address global issues such as
energy, environment, security and health.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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