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FEI (NASDAQ: FEIC), a leading instrumentation company providing imaging and analysis systems for research and industry, today announced that it has acquired TILL Photonics of Munich, Germany. TILL provides sophisticated, high resolution, digital light microscopes and high speed imaging systems for live cell fluorescence microscopy.
"The Life Sciences market is a key growth opportunity for FEI," noted Don Kania, president and CEO of FEI. "With this acquisition, FEI acquires additional key technology for correlative microscopy for cellular biology, which integrates high performance light and electron microscopy. Now we can accelerate the growth of our Life Sciences business, which is an important component of our company-wide plan to double our served available market in the next three years."
"The very open and flexible microscope platforms of TILL are an ideal starting point for correlative microscopy," commented Frank Lison, president of TILL Photonics GmbH. "They will open up new market opportunities for our high-resolution technologies. The strength of FEI will help us to achieve our goals much faster."
The purchase price for the acquisition is €14.5 million (approximately $20 million), plus an earn-out payable in two years based on attainment of specified milestones. TILL brings great products, a wealth of technology and a skilled and experienced team to FEI, along with revenues of approximately $8 million for calendar year 2011.
FEI (Nasdaq: FEIC) is a leading diversified scientific instruments company. It is a premier provider of electron- and ion-beam microscopes and solutions for nanoscale applications across many industries: industrial and academic materials research, life sciences, semiconductors, data storage, natural resources and more. With more than 60 years of technological innovation and leadership, FEI has set the performance standard in transmission electron microscopes (TEM), scanning electron microscopes (SEM) and DualBeams™, which combine a SEM with a focused ion beam (FIB). Headquartered in Hillsboro, Ore., USA, FEI has over 2,000 employees and sales and service operations in more than 50 countries around the world. More information can be found at: www.fei.com.
TILL Photonics GmbH develops and markets cutting-edge microscopes and microscopy related products for imaging of living cells since 1993. The flexible imaging platforms enable innovative set-ups that are used in fundamental research, applied science and diagnostics. Its 40 employees are located in Munich, Germany. More information is available at www.till-photonics.com.
Safe Harbor Statement
This news release contains forward-looking statements that include statements regarding the potential benefits and expectations for the acquisition by FEI of TILL Photonics, including its 2011 revenue, as well as FEI’s plans to double its served available market in the next three years. Factors that could affect these forward-looking statements include but are not limited to failure of the TILL product and technology to perform as expected and achieve anticipated results; slower-than-expected development of the correlative microscopy market; failure to successfully integrate TILL’s products and strategy with FEI’s; failure of the company’s plans to expand its markets, including Life Sciences, as expected; a significant cyclical downturn in the company’s existing markets; and the failure of planned new products to expand markets as expected. Please also refer to our Form 10-K, Forms 10-Q, Forms 8-K and other filings with the U.S. Securities and Exchange Commission for additional information on these factors and other factors that could cause actual results to differ materially from the forward-looking statements. FEI assumes no duty to update forward-looking statements.
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