Oxfords Instruments to buy Germany's WITec for up to €45m

Scientific equipment maker Oxford Instruments said it had bought Germany’s Wissenschaftliche Instrumente und Technologie (WITec) for up to €42m.

WITec is a Raman microscopy imaging provider based in Ulm. The deal is on a debt-free basis with €5m of the purchase price conditional on trading performance over a period of 12 months following completion.

The acquisition is subject to regulatory approval by the German Economic Affairs and Energy ministry in Germany. Conditions are expected to be satisfied during the second quarter of the group's financial year, Oxford Instruments said on Wednesday.

Dr Ian Barkshire, Chief Executive, Oxford Instruments said: " Raman microscopy is an important and widely used technique across academic and commercial customers for fundamental research, applied research & development and quality assurance / quality control.”

“The technique is used in conjunction and alongside our existing characterisation solutions and broadens the capabilities that we can bring to existing customers whilst expanding opportunities into new market areas.”