Varian acquires x-ray crystallography company Oxford Diffraction

8 April 2008

Varian, Inc. (NasdaqGS: VARI) has taken over Oxford Diffraction Ltd, a privately owned company based in Abingdon, UK, specialising in x-ray crystallography.

Varian has paid about US$37m and could pay a further US$10m depending on future performance. Oxford Diffraction's latest annual revenues were approximately US$15 million. Varian says the acquisition is part of its strategy to strengthen the company's portfolio of information-rich detection products, through internal research and development as well as the acquisition of complementary products and technologies.

X-ray crystallography is an analytical technique used to determine the structure of both small molecules and large molecules such as proteins. For crystalline compounds, x-ray crystallography is the most powerful technique available for structural analysis. Nuclear magnetic resonance (NMR) provides complementary structural information for compounds in the solid state and also structural information for compounds in solutions.

"The acquisition of Oxford Diffraction is key to Varian's goal of broadening its range of information-rich detection products for life science research," said Garry W. Rogerson, President and CEO, Varian, Inc. "Oxford Diffraction has experienced rapid growth since its formation in 2001 and has established a strong reputation in single-crystal x-ray crystallography, particularly in Europe. Oxford Diffraction products will now be distributed on a global basis via Varian's worldwide distribution network."

Paul Loeffen, CEO of Oxford Diffraction said, "In addition to the obvious benefit to our business of a much larger distribution and support organization, the sale of Oxford Diffraction to Varian brings a number of additional important advantages.

"We now have the opportunity to offer customers more powerful solutions through combinations of complementary information-rich techniques to include x-ray crystallography, nuclear magnetic resonance (NMR) spectrometry and liquid chromatography-mass spectrometry (LC-MS). Furthermore, as part of Varian, we look forward to continuing the development of innovative technologies and products for our customers."

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