Nanotechnology Now





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

A 'movie' of ultrafast rotating molecules at a hundred billion per second: A quantum wave-like nature was successfully observed in rotating nitrogen molecules July 4th, 2015

Clues to inner atomic life from subtle light-emission shifts: Hyperfine structure of light absorption by short-lived cadmium atom isotopes reveals characteristics of the nucleus that matter for high precision detection methods July 3rd, 2015

News and information

A 'movie' of ultrafast rotating molecules at a hundred billion per second: A quantum wave-like nature was successfully observed in rotating nitrogen molecules July 4th, 2015

New Biosensor Produced in Iran to Detect Effective Drugs in Cancer Treatment July 4th, 2015

Clues to inner atomic life from subtle light-emission shifts: Hyperfine structure of light absorption by short-lived cadmium atom isotopes reveals characteristics of the nucleus that matter for high precision detection methods July 3rd, 2015

Announcements

A 'movie' of ultrafast rotating molecules at a hundred billion per second: A quantum wave-like nature was successfully observed in rotating nitrogen molecules July 4th, 2015

New Biosensor Produced in Iran to Detect Effective Drugs in Cancer Treatment July 4th, 2015

Clues to inner atomic life from subtle light-emission shifts: Hyperfine structure of light absorption by short-lived cadmium atom isotopes reveals characteristics of the nucleus that matter for high precision detection methods July 3rd, 2015

Pioneering Southampton scientist awarded prestigious physics medal July 3rd, 2015

Tools

A 'movie' of ultrafast rotating molecules at a hundred billion per second: A quantum wave-like nature was successfully observed in rotating nitrogen molecules July 4th, 2015

Clues to inner atomic life from subtle light-emission shifts: Hyperfine structure of light absorption by short-lived cadmium atom isotopes reveals characteristics of the nucleus that matter for high precision detection methods July 3rd, 2015

Nanometrics to Announce Second Quarter Financial Results on July 23, 2015 July 2nd, 2015

NIST ĎHow-Toí Website Documents Procedures for Nano-EHS Research and Testing July 1st, 2015

Patents/IP/Tech Transfer/Licensing

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

NEI Announces the Issuance of Multiple Patents on Self-Healing & Superhydrophobic Coatings June 30th, 2015

Solegear Further Strengthens its Product Development Team: New Hire Seeks to Create New, Disruptive, Sustainable Materials June 17th, 2015

High-tech nanofibres could help nutrients in food hit the spot June 17th, 2015

Energy

New technology using silver may hold key to electronics advances July 2nd, 2015

Visible Light-Sensitive Photocatalysts Used for Purification of Contaminated Water in Iran June 30th, 2015

June 29th, 2015

Making new materials with micro-explosions: ANU media release: Scientists have made exotic new materials by creating laser-induced micro-explosions in silicon, the common computer chip material June 29th, 2015

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