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April 7, 2008

Varian Pays $37M for Oxford Diffraction

  • Varian has taken ownership of Oxford Diffraction  for approximately $37 million in cash and assumed net debt. Oxford is a privately owned company based in Abingdon, U.K., that is focused on x-ray crystallography.

    The transaction also includes an opportunity for additional purchase price payments over three years, dependent on future financial performance. Those future payments could total up to $10 million if aggressive performance targets are achieved. Oxford Diffraction generated revenues of approximately $15 million for the twelve months ended March 31, 2008.

    "The acquisition of Oxford Diffraction is key to Varian's goal of broadening its range of information-rich detection products for life science research," says Garry W. Rogerson, president and CEO at Varian.

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