REG - Oxford Instruments - Acquisition of First Light Imaging SAS

Oxford InstrumentsAnnouncement

10/01/2024 07:00

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RNS Number : 1592Z  Oxford Instruments PLC  10 January 2024

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LEI: 213800J364EZD6UCE231

 

10 January 2024

Oxford Instruments plc acquires First Light Imaging SAS

 

Oxford Instruments plc ("the Group", "Oxford Instruments"), a leading provider
of high technology products and services to industry and scientific research
communities, today announces the acquisition of First Light Imaging SAS
("First Light"), a scientific camera specialist.

Based near Aix-en-Provence, France, and founded in 2011, First Light
specialises in the design and manufacture of high-speed, low-noise scientific
cameras for infrared and visible imaging, with applications in astronomy and
life sciences. It will become part of Oxford Instruments Andor ("Andor"), with
a common global customer base spanning leading academic institutions and
commercial companies. Its cameras are highly complementary to Andor's existing
scientific camera portfolio, with the acquisition providing opportunities to
enhance both companies' offerings and to expand into adjacent markets.

Under the terms of the acquisition, Oxford Instruments is paying an initial
cash consideration of €15.7m, on a cash-free, debt-free basis, with a
further €3m cash consideration conditional on First Light's trading
performance over a 12-month period following completion. First Light's
estimated revenue for the 12 months to 31 December 2023 is €8.0m (£7.0m),
with return on sales below the average for the Group.

Richard Tyson, Chief Executive Officer, Oxford Instruments plc, said:

 

"We are delighted to welcome the talented First Light team to Oxford
Instruments. Like us, they have a reputation and track record for quality,
innovation and scientific expertise, and their leading range of products
dovetails well with our scientific camera portfolio. Joining forces will
significantly enhance our world-class camera offering to our combined customer
base and drive First Light's next phase of growth as part of the wider Group.

"Our expanded portfolio will help us accelerate our customers' roadmaps in the
life science market and in physical sciences, a long-standing area of strength
for Oxford Instruments."

 

David Boutolleau, co-founder of First Light, said:

 

"Joining Oxford Instruments and Andor is a real opportunity for First Light
Imaging.

"After 12 years building First Light as a successful independent business, it
became clear that to take the business to the next stage of its development,
we would need industrial and commercial support to reinforce our
manufacturing, technology and routes to market.

"Our acquisition by Oxford Instruments Andor accelerates our growth and
secures our future for our customers, partners and employees."

Ends.

 

Enquiries

 

Oxford Instruments plc
 
Tel: 01865 393200

Richard Tyson, Chief Executive Officer

Gavin Hill, Chief Financial Officer

 

Julian Wais, Head of Investor Relations
                         Tel: 07720 999764

Julian.wais@oxinst.com (mailto:Julian.wais@oxinst.com)

 

MHP
Group
Tel: 020 3128 8100

Katie Hunt/Tim Rowntree/Eleni Menikou/Veronica Farah

oxfordinstruments@mhpc.com (mailto:oxfordinstruments@mhpc.com)

 

Notes to Editors

 

About Oxford Instruments plc

Oxford Instruments designs, supplies and supports high-technology products
and systems which enable the world's leading companies and scientific research
communities to image, analyse and manipulate materials down to the atomic and
molecular level. The Group's products and services help its customers to
accelerate R&D, increase manufacturing productivity and make
ground-breaking discoveries across its key market segments: Semiconductor
& Communications, Advanced Materials, Healthcare & Life Science,
Energy & Environment and Quantum Technology. 

Innovation is the driving force behind Oxford Instruments' growth and success,
supporting its core purpose to enable a greener, healthier, more connected
advanced society. Founded in 1959 as the first technology business to be spun
out from Oxford University, Oxford Instruments is now a global company
listed on the FTSE250 index of the London Stock Exchange (OXIG). Its
customer-centric, market-focused strategy creates competitive advantage
through understanding the technical and commercial challenges in markets with
long-term structural growth drivers.

 

For more information, visit www.oxinst.com 

 

About First Light

First Light Imaging designs, manufactures and sells scientific cameras for
astronomy, life sciences, high end industry and new space applications. Its
products provide scientific and R&D communities with imaging solutions for
low light environments and real time applications such as adaptive optics and
free space optical communications. Originally created from a knowledge
transfer from French public research institutes (Laboratoire Astrophysique de
Marseille and Institut Planetologie Astrophysique de Grenoble/CNRS), the
company has developed and improved its own technology and reached a leading
position in scientific imaging, especially for short wave infrared spectra.
Founded in 2011 by a group of engineers and the current CEO David Boutolleau,
today First Light Imaging has a global reach.

For more information, visit www.first-light-imaging.com

About Oxford Instruments Andor (Andor Technology Limited)

 
Andor was previously a public listed company and listed on the AIM until its
acquisition by Oxford Instruments plc in 2013. The company is a global leader
in the pioneering and manufacturing of high-performance scientific imaging
cameras, spectroscopy solutions and microscopy systems for research and OEM
markets.  Its products are used in a wide range of applications, and are
contributing to advancements in cancer research, space exploration, and clean
energy sources. Andor now has over 400 employees across 16 offices worldwide,
distributing products to over 20,000 customers in 55 countries.

 

For more information, visit andor.oxinst.com (andor.oxinst.com)

 

 

 

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