Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > FEI Buys Digital Rock Solutions Provider and microCT Product: Lithiconís Solutions Will Expand FEIís Oil & Gas Industry Offerings

Abstract:
FEI (NASDAQ: FEIC), a leading instrumentation company providing imaging and analysis systems for research and industry, today announced that it has acquired Lithicon AS of Trondheim, Norway and Canberra, Australia. Lithicon provides leading-edge digital rock technology services and pore-scale micro computed tomography (ĶCT, or microCT) equipment to oil and gas companies worldwide. In conjunction with the acquisition, FEI has obtained the helical scan microCT product and associated software from the Australian National University (ANU), through a licensing and development agreement.

FEI Buys Digital Rock Solutions Provider and microCT Product: Lithiconís Solutions Will Expand FEIís Oil & Gas Industry Offerings

Hillsboro, OR | Posted on February 5th, 2014

"The acquisition of Lithicon and the microCT tool completes our digital rock workflow for the oil and gas market," said Don Kania, president and CEO of FEI. "This will significantly accelerate the growth of our served available market. We will integrate both Lithicon and the microCT product with our automated mineralogy capabilities, our advanced 3D visualization and modeling expertise and our electron microscopy leadership to provide a unique and powerful workflow solution for both conventional and unconventional oil & gas markets. Another important benefit will result from the expansion of microCT equipment sales into our other markets, where we believe there is a large demand for this technology and associated workflows."

"We are very pleased with FEI's acquisition of Lithicon," commented Lithicon Chairman Terje Eidesmo. "After learning more about FEI, its strengths and its plans, we are convinced of the synergies they will provide. CEO Odd Hjelmeland and the team have built Lithicon's technology and business successfully, and we believe this is the right time for us to hand over the reins to FEI."

"Combining with FEI gives Lithicon added financial strength, distribution capabilities and complimentary technical know-how to continue the company's growth," said Victor Pantano, the new general manager of Lithicon. "We believe digital rock technology is a needed breakthrough for the oil and gas industry, and the acquisition by FEI will allow Lithicon to take full advantage of this opportunity."

Lithicon is the result of the 2013 integration of two of the world's leading digital core imaging and analysis companies: Digitalcore Pty Ltd of Canberra, Australia and Numerical Rocks AS of Trondheim, Norway. The company combines Digitalcore's unique core imaging and processing expertise with Numerical Rocks' next-generation multiphase flow modeling capabilities to give it a leadership position in the emerging digital rock analysis market. Numerical Rocks is a 2004 spinoff from Statoil ASA, and Digitalcore was founded in 2009 based on technology developed at the ANU and the University of New South Wales.

The purchase price was $68 million. It was paid for with funds from FEI's European operations which otherwise would be subject to U.S. taxation if repatriated. The acquisition is projected to add approximately 1% to 2% to FEI's revenues for the balance of 2014. FEI expects the acquisition to be accretive to GAAP earnings in 2015 and slightly dilutive to GAAP earnings in 2014.

####

About FEI Company
FEI Company (Nasdaq: FEIC) designs, manufactures and supports a broad range of high-performance microscopy workflow solutions that provide images and answers at the micro-, nano- and picometer scales. Its innovation and leadership enable customers in industry and science to increase productivity and make breakthrough discoveries. Headquartered in Hillsboro, Ore., USA, FEI has over 2,600 employees and sales and service operations in more than 50 countries around the world. More information can be found at: www.fei.com.

Safe Harbor Statement

This news release contains forward-looking statements that include statements regarding the expectations for growth in the market opportunity and earnings from the acquisition of Lithicon by FEI. Factors that could affect these forward-looking statements include but are not limited to failure of the digital rock technology market to grow as expected, failure of the products and technology to perform as expected and achieve anticipated results, problems in integrating the operations of Lithicon and FEI, potential intellectual property conflicts over digital rock technology and microCT markets, unexpected technology problems and challenges, failure of the FEI sales and distribution organization to successfully sell new products in new and existing markets and potential disruption from the transfer of technology and manufacturing from its present location to a new location. Investors should 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.

For more information, please click here

Contacts:
Sandy Fewkes
Principal
(media contact)
MindWrite Communications, Inc.
+1 408 224 4024


FEI Company
Fletcher Chamberlin
(investors and analysts
Investor Relations
+1 503 726 7710

Copyright © FEI Company

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Imaging

Texas A&M Chemist Says Trapped Electrons To Blame For Lack Of Battery Efficiency: Forget mousetraps ó todayís scientists will get the cheese if they manage to build a better battery June 28th, 2016

News and information

Texas A&M Chemist Says Trapped Electrons To Blame For Lack Of Battery Efficiency: Forget mousetraps ó todayís scientists will get the cheese if they manage to build a better battery June 28th, 2016

Building a smart cardiac patch: 'Bionic' cardiac patch could one day monitor and respond to cardiac problems June 28th, 2016

New, better way to build circuits for world's first useful quantum computers June 28th, 2016

Yale researchersí technology turns wasted heat into power June 27th, 2016

Announcements

Texas A&M Chemist Says Trapped Electrons To Blame For Lack Of Battery Efficiency: Forget mousetraps ó todayís scientists will get the cheese if they manage to build a better battery June 28th, 2016

Building a smart cardiac patch: 'Bionic' cardiac patch could one day monitor and respond to cardiac problems June 28th, 2016

New, better way to build circuits for world's first useful quantum computers June 28th, 2016

Yale researchersí technology turns wasted heat into power June 27th, 2016

Tools

Texas A&M Chemist Says Trapped Electrons To Blame For Lack Of Battery Efficiency: Forget mousetraps ó todayís scientists will get the cheese if they manage to build a better battery June 28th, 2016

FEI Launches Helios G4 DualBeam Series for Materials Science: The Helios G4 DualBeam Series features new capabilities to enable scientists and engineers to answer the most demanding and challenging scientific questions June 27th, 2016

Nanoscientists develop the 'ultimate discovery tool': Rapid discovery power is similar to what gene chips offer biology June 25th, 2016

Ultrathin, flat lens resolves chirality and color: Multifunctional lens could replace bulky, expensive machines June 25th, 2016

Patents/IP/Tech Transfer/Licensing

New 'ukidama' nanoparticle structure revealed June 14th, 2016

Rice wins award to recruit cancer researcher: $2 million CPRIT grant aims to bring MIT researcher Omid Veiseh to Houston June 7th, 2016

Nanobiotix receives US$1m milestone payment from PharmaEngine: First patient injected with NBTXR3 in soft tissue sarcoma registration phase in Asia May 31st, 2016

Programmable materials find strength in molecular repetition May 23rd, 2016

Energy

Yale researchersí technology turns wasted heat into power June 27th, 2016

Nanoscientists develop the 'ultimate discovery tool': Rapid discovery power is similar to what gene chips offer biology June 25th, 2016

Researchers discover new chemical sensing technique: Technique allows sharper detail -- and more information -- with near infrared light June 24th, 2016

FEI and University of Liverpool Announce QEMSCAN Research Initiative: University of Liverpool will utilize FEIís QEMSCAN technology to gain a better insight into oil and gas reserves & potentially change the approach to evaluating them June 22nd, 2016

Acquisitions/Mergers/Splits

GLOBALFOUNDRIES Completes Acquisition of IBM Microelectronics Business: Transaction adds differentiating technologies, world-class technologists, and intellectual property July 1st, 2015

Entest BioMedical, Inc. in Discussions to Acquire Nanotechnology Delivery System for Cancer Therapy June 3rd, 2015

Evident Thermoelectrics Acquires GMZ Energy: Investment Accelerates Launch Of Evident's Thermoelectric Modules For Waste Heat May 20th, 2015

Keysight Technologies Begins Trading as Independent Company November 3rd, 2014

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic