Oxford Instruments buys US firm

Oxford Instruments has announced its acquisition of Technologies and Devices International (TDI).

The high technology tools and systems company purchased the US-based firm for an initial price of $1 million (£0.5m).

A cash earn-out – capped at $6m – is included in the deal, it will be payable in July 2012 depending on the sales of tools from the previous financial year.

The takeover enables Oxford Instruments to use TDI’s technologies to produce a range of tools which it claims will enable suppliers of High Brightness Light Emitting Diodes to cut manufacturing times by 25 per cent – allowing a reduction in the production costs of these environmentally-friendly devices.

Jonathan Flint, chief executive of Oxford Instruments, said that the purchase supported the group’s strategy to buy complementary technologies in order to double in size over five years.

"TDI is an excellent business with proprietary technologies in a market that is set to grow very significantly," he stated.

"We will be among the market leaders in this valuable and vital segment."

Oxfor Instruments aims to be the leading provider of tools and systems for the emerging nanotechnology and bioscience markets.