StockMarketWire.com - Leading provider of high technology products and services for research and industry, Oxford Instruments, has agreed to buy German microscope manufacturer WITec GmbH for €42 million, to be paid all in cash.

€5 million of the price is conditional on trading performance over a 21 month period following completion.

Dr Ian Barkshire, chief executive at 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.’

WITec GmbH, based in Ulm Germany, reported an unaudited revenue of €18.2 million for the year ending 31 December 2020.

The acquisition will allow the company to benefit from the global reach of Oxford Instruments, and its complimentary technology and application knowledge.


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