Aug 20 2007
Oxford Instruments plc is pleased to announce the acquisition of VeriCold Technologies GmbH. VeriCold manufacture and market a range of cryogen free products based on their pulse tube cooler technology. These products will complement and broaden the extensive range of low temperature and high magnetic field instruments already available from Oxford Instruments NanoScience. This acquisition is part of the strategy put in place by Chief Executive, Jonathan Flint, to acquire complementary technologies and double the size of the Company over five years.
Cryofree® products remove the requirement for expensive and difficult to handle liquefied gases and open up new growth markets for low temperature instrumentation such as airport security and quantum computers. The combination of VeriCold’s cryogen-free refrigerator products with Oxford Instruments recently launched Triton Cryofree refrigerator provides a very extensive and complete range of Cryofree refrigerators for both existing academic research and new markets. Our existing materials characterization customers will now be able to carry out research at ultra low temperatures with a cryogen free capability which can be seamlessly integrated with Oxford Instruments unrivaled range of Cryofree superconducting magnets to provide industry leading next generation products. Oxford Instruments NanoScience will maintain its existing relationships with other suppliers of closed cycle refrigerators to ensure our full range of capabilities and product offerings is maintained.
VeriCold, a world leader in the manufacture of pulse tube refrigerators and cryogen-free low temperature equipment, will remain at its location in Ismaning, Germany, and expand its research and development group significantly to serve the growing demand for cryogen-free technologies
Dr Jim Hutchins Managing Director of Oxford Instruments NanoScience, said: ‘This acquisition is part of our on-going strategy to deliver added value to our customers and to focus on the commercialisation of our science. We are delighted that VeriCold will be joining us, and look forward to working with them to deliver an enhanced service to our customers.’
Dr Jens Hohne, Director of VeriCold said: ‘We are delighted to be part of the Oxford Instruments group of companies. In the fast growing markets we established over the last years this step will allow us to concentrate on the further development and custom specific requests to support our products. In addition this will allow us to compete in attractive new markets for our products such as quantum computing and airport security that will drive our next stage of business growth.’