Oxford Instruments plc has announced the acquisition of German cryogen-free equipment manufacturer VeriCold Technologies GmbH, as part of a strategy put in place to acquire complementary technologies and double the size of the company over 5 years.
VeriCold manufactures and markets a range of cryogen free products based on its pulse tube cooler technology and it is felt that these products will complement and broaden the extensive range of low temperature and high magnetic field instruments already available from Oxford Instruments NanoScience.
The world leader in pulse tube refrigerator manufacturing will remain at its location in Ismaning in Germany, significantly expanding its research and development group to serve the growing demand for cryogen-free technologies.
Dr Jim Hutchins, managing director of Oxford Instruments NanoScience, said, $quot;This acquisition is part of our on-going strategy to deliver added value to our customers and to focus on the commercialisation of our science. We are delighted that VeriCold will be joining us, and look forward to working with them to deliver an enhanced service to our customers.$quot;
Dr Jens Hoehne, director of VeriCold, shared this enthusiasm as he commented, $quot;We are delighted to be part of the Oxford Instruments group of companies. In the fast growing markets we established over the last years this step will allow us to concentrate on the further development and custom specific requests to support our products. In addition, this will allow us to compete in attractive new markets for our products, such as quantum computing and airport security that will drive our next stage of business growth.$quot;
Cryofree products remove the requirement for expensive and difficult to handle liquefied gases and open up new growth markets for low temperature instrumentation, such as airport security and quantum computers.
The newly announced combination of VeriCold's cryogen-free refrigerator products with Oxford Instruments' recently launched Triton Cryofree refrigerator, provides an extensive and complete range of Cryofree refrigerators for both existing academic research and new markets.
Oxford Instruments NanoScience will maintain its existing relationships with other suppliers of closed cycle refrigerators to ensure its full range of capabilities and products is maintained.