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
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."