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Varian buys Oxford Diffraction for $37M
May 2008
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PALO ALTO, Calif.—Varian Inc. announced in early April that it acquired Oxford Diffraction Ltd., based in Abingdon, U.K., for $37 million in cash. 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 is a provider of X-ray crystallography instruments, used by scientists in pharmaceutical research and other research laboratories to determine the structure of both small molecules and large molecules such as proteins.

"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 of Varian. "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."

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.

"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," says Paul Loeffen CEO of Oxford Diffraction. "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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