Oxford Instruments, the Abingdon-based leading provider of high-technology solutions, information and services for industry and research, has completed the acquisition of WITec Wissenschaftliche Instrumente und Technologie GmbH and all its Group companies.
The acquisition follows 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 a 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.”
Dr Joachim Koenen and Dr Olaf Hollricher, WITec’s founders and managing directors, said: “We look back on a 24-year track record of making WITec a prosperous and innovative Raman imaging company.
“Now that we are joining the Oxford Instruments Group, we look forward to continuing this success together with a strong partner to grow even faster and to use the existing synergies to further expand our reach into the range of markets that will benefit from our wide product portfolio.”
