Oxford Instruments plc (LON:OXIG), a leading provider of high technology products and services to industry and scientific research communities, has announced that it has entered into an agreement to acquire FemtoTools AG, 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.”
