Varian acquires Oxford Diffraction

Varian acquired Oxford Diffraction for approximately $37 million in cash and assumed net debt. 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.

This acquisition is said to be part of Varian’s strategy to strengthen the company’s portfolio of information-rich detection products, through internal R&D as well as the acquisition of complementary products and technologies.

Garry Rogerson, president and CEO of Varian, said: “The acquisition of Oxford Diffraction is key to Varian’s goal of broadening its range of information-rich detection products for life science research. Oxford Diffraction products will now be distributed on a global basis via Varian’s worldwide distribution network.”