FEI Buys TILL Photonics
Strategic Technology Acquisition for Life Sciences
"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(TM) , 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.
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.
T.I.L.L. Photonics GmbH
TILL was founded in 1993 as systems provider for fluorescence microscopy. From its very beginning TILL had placed its focus on the development of innovative, enabling technologies for the study of live cells. Setting out with a novel light source for ratio imaging and the first real-time imaging system on the market, TILL developed a novel, award-winning microscope platform concept, which allows integrating an unprecedented number of functionalities into a single instrument. Based on this technology TILL has subsequently become a provider for complete microscope systems, and the new TILL intends to step into these footsteps and plans to extend the platform concept in order to grow into a wide range of markets, both in basic research, screening and medical diagnostics.