- 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.

Story provided by