Oxford Instruments completes €42m purchase of WITec in Germany
Oxford Instruments plc, the Abingdon-based leading provider of high-technology, information and services for industry and research has completed its €42m purchase of WITec Wissenschaftliche Instrumente und Technologie GmbH and all its Group companies, following regulatory approval from the Federal Ministry for Economic Affairs and Energy (BMWi) in Germany and satisfaction of other closing conditions.
The acquisition is in line with Oxford Instruments’ strategy of supporting customers in attractive end markets, enhancing its portfolio of solutions for a range of applications including semiconductors, life science and advanced materials. It will enable WITec GmbH to build on its success to date, benefitting from the global reach of Oxford Instruments, alongside its complementary technology and application knowledge.
WITec’s unaudited revenue for the twelve months to 31 December 2020 was €18.2m (£15.7m), with return on sales below the average for the Group.
Dr Ian Barkshire, Chief Executive, Oxford Instruments said" "We are delighted to complete the acquisition of WITec and welcome our new colleagues to Oxford Instruments. WITec's leading Raman microscopy solutions are a great complement to our existing products and techniques. We look forward to growing the business through investment in R&D as well as enabling them to reach new customers through our global sales and service channels, thereby supporting our customers in facilitating a greener economy, achieve increased connectivity, improved health and leaps in scientific understanding."
