University of Ulm spinout WITec has agreed to a $50m acquisition by Oxford Instruments, itself the first-ever spinout of University of Oxford.
Wissenschaftliche Instrumente und Technologie (WITec), a Germany-based microscopy imaging technology spinout of University of Ulm, is set to be acquired by research tools manufacturer Oxford Instruments for up to €42m ($50m).
A total of €5m of the purchase price is dependent on trading performance over a period of 12 months following the deal’s closure. The transaction remains subject to regulatory approval by Germany’s Federal Ministry for Economic Affairs and Energy.
Founded in 1997, WITec markets nano-analytical microscope systems. It has international offices in the US and throughout Asia Pacific.
The acquisition will allow the spinout to build on its growth trajectory and tap into Oxford Instruments’ customer reach.
Oxford Instruments itself is the first-ever spinout set up by University of Oxford.
