TIDMOXIG
RNS Number : 1592Z
Oxford Instruments PLC
10 January 2024
External - RNS announcement
LEI: 213800J364EZD6UCE231
10 January 2024
Oxford Instruments plc acquires First Light Imaging SAS
Oxford Instruments plc ("the Group", "Oxford Instruments"), a
leading provider of high technology products and services to
industry and scientific research communities, today announces the
acquisition of First Light Imaging SAS ("First Light"), a
scientific camera specialist .
Based near Aix-en-Provence, France, and founded in 2011, First
Light specialises in the design and manufacture of high-speed,
low-noise scientific cameras for infrared and visible imaging ,
with applications in astronomy and life sciences. It will become
part of Oxford Instruments Andor ("Andor"), with a common global
customer base spanning leading academic institutions and commercial
companies. Its cameras are highly complementary to Andor's existing
scientific camera portfolio, with the acquisition providing
opportunities to enhance both companies' offerings and to expand
into adjacent markets.
Under the terms of the acquisition, Oxford Instruments is paying
an initial cash consideration of EUR15.7m, on a cash-free,
debt-free basis, with a further EUR3m cash consideration
conditional on First Light's trading performance over a 12-month
period following completion. First Light's estimated revenue for
the 12 months to 31 December 2023 is EUR8.0m (GBP7.0m), with return
on sales below the average for the Group.
Richard Tyson, Chief Executive Officer, Oxford Instruments plc,
said:
"We are delighted to welcome the talented First Light team to
Oxford Instruments. Like us, they have a reputation and track
record for quality, innovation and scientific expertise, and their
leading range of products dovetails well with our scientific camera
portfolio. Joining forces will significantly enhance our
world-class camera offering to our combined customer base and drive
First Light's next phase of growth as part of the wider Group.
"Our expanded portfolio will help us accelerate our customers'
roadmaps in the life science market and in physical sciences, a
long-standing area of strength for Oxford Instruments."
David Boutolleau, co-founder of First Light, said:
" Joining Oxford Instruments and Andor is a real opportunity for
First Light Imaging.
"After 12 years building First Light as a successful independent
business, it became clear that to take the business to the next
stage of its development, we would need industrial and commercial
support to reinforce our manufacturing, technology and routes to
market.
"Our acquisition by Oxford Instruments Andor accelerates our
growth and secures our future for our customers, partners and
employees. "
Ends.
Enquiries
Oxford Instruments plc Tel: 01865 393200
Richard Tyson, Chief Executive Officer
Gavin Hill, Chief Financial Officer
Julian Wais, Head of Investor Relations Tel: 07720 999764
Julian.wais@oxinst.com
MHP Group Tel: 020 3128 8100
Katie Hunt/Tim Rowntree/Eleni Menikou/Veronica Farah
oxfordinstruments@mhpc.com
Notes to Editors
About Oxford Instruments plc
Oxford Instruments designs, supplies and supports
high-technology products and systems which enable the world's
leading companies and scientific research communities to image,
analyse and manipulate materials down to the atomic and molecular
level. The Group's products and services help its customers to
accelerate R&D, increase manufacturing productivity and make
ground-breaking discoveries across its key market segments:
Semiconductor & Communications, Advanced Materials, Healthcare
& Life Science, Energy & Environment and Quantum
Technology.
Innovation is the driving force behind Oxford Instruments'
growth and success, supporting its core purpose to enable a
greener, healthier, more connected advanced society. Founded in
1959 as the first technology business to be spun out from Oxford
University, Oxford Instruments is now a global company listed on
the FTSE250 index of the London Stock Exchange (OXIG). Its
customer-centric, market-focused strategy creates competitive
advantage through understanding the technical and commercial
challenges in markets with long-term structural growth drivers.
For more information, visit www.oxinst.com
About First Light
First Light Imaging designs, manufactures and sells scientific
cameras for astronomy, life sciences, high end industry and new
space applications. Its products provide scientific and R&D
communities with imaging solutions for low light environments and
real time applications such as adaptive optics and free space
optical communications. Originally created from a knowledge
transfer from French public research institutes (Laboratoire
Astrophysique de Marseille and Institut Planetologie Astrophysique
de Grenoble/CNRS), the company has developed and improved its own
technology and reached a leading position in scientific imaging,
especially for short wave infrared spectra. Founded in 2011 by a
group of engineers and the current CEO David Boutolleau, today
First Light Imaging has a global reach.
For more information, visit www.first-light-imaging.com
About Oxford Instruments Andor (Andor Technology Limited)
Andor was previously a public listed company and listed on the
AIM until its acquisition by Oxford Instruments plc in 2013. The
company is a global leader in the pioneering and manufacturing of
high-performance scientific imaging cameras, spectroscopy solutions
and microscopy systems for research and OEM markets. Its products
are used in a wide range of applications, and are contributing to
advancements in cancer research, space exploration, and clean
energy sources. Andor now has over 400 employees across 16 offices
worldwide, distributing products to over 20,000 customers in 55
countries.
For more information, visit andor.oxinst.com
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