Last checked at 28 May 2008 16:03
| Press Release | Oxford Instruments plc Tubney Woods, Abingdon Oxon OX13 5QX, UK Tel: +44 (0) 1865 393200 Fax: +44 (0) 1865 393422 Email:info.plc@oxinst.com www.oxford-instruments.com |
28 May 2008
Oxford Instruments plc
Acquisition of Link Analytical AB.
Oxford Instruments plc, ("Oxford Instruments" or "the Group"), the high technology tools and systems company, today announces the acquisition of the business and assets of Link Analytical AB ("Link") from Anna Otterstrom, the current owner/manager.
Link's primary activity is the distribution and after-sales support of Oxford Instruments NanoAnalysis equipment in Scandinavia. The acquisition will also provide the Group with opportunities to distribute complementary analytical instruments on behalf of a number of third party manufacturers in the region.
The consideration is an initial cash payment of £0.6m with a cash earn-out of up to £0.6m payable over three years should the business meet specific sales growth targets.
For the year ended 31 December 2007, Link reported a profit before tax of £0.5m. However, this profit included a number of one off contracts and provision releases that are not expected to be repeated. At 31 December 2007 gross assets were £1.7m. It is expected that the acquisition will be earnings enhancing in its first full year.
Jonathan Flint, Chief Executive of Oxford Instruments plc, said: "The acquisition of Link Analytical is consistent with our five year strategy, which we commenced in 2006, to double the size of the Group and improve EBIT margins by 10 percentage points. We have now established an improved route to supply our customers in Scandinavia as well as further growth opportunities."
Enquiries:
Oxford Instruments plc Tel: 01865 393 200
Jonathan Flint Chief Executive
Kevin Boyd Group Finance Director
Hogarth Partnership Tel: 020 7357 9477
Rachel Hirst
Andrew Jaques
Ian Payne
Notes to Editors
Oxford Instruments designs, supplies and supports high-technology tools, processes and solutions with a focus on physical science, bioscience, environmental and industrial research and applications. It provides solutions needed to advance fundamental nanoscience research and its transfer into commercial nanotechnology applications. Innovation has been the driving force behind Oxford Instruments' growth and success for over 40 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 forty five years ago, Oxford Instruments is now a global company with over 1,500 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 Physical Science and Bioscience 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. 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.