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Oxford Instruments plc announced on 10 June 2025 it entered a binding agreement to sell its quantum-focused NanoScience business to Quantum Design, International Inc. for a total cash consideration of £60 million, including up to £3 million of deferred consideration. NanoScience generated approximately £59 million in revenue and £1 million adjusted operating profit in FY25. The sale is expected to complete in the third quarter of FY2025/26, subject to regulatory approvals, and Oxford Instruments plc plans to return up to £50 million to shareholders via a share buyback.
| Date | 10 Jun 2025 |
| Time | 07:00:12 |
| Category | Disposals |
| ID | 1656M |
This announcement contains inside information
10 June 2025
Oxford Instruments plc
Sale of Oxford Instruments' quantum business, NanoScience
Oxford Instruments plc, a leading provider of high technology products and services to industry and scientific research communities, today announces that it has entered into a binding agreement to sell its quantum-focused business Oxford Instruments NanoScience ("NanoScience") to Quantum Design, International Inc. for a £60m total cash consideration ("Sale"), including up to £3m of deferred consideration linked to future revenues from quantum scaling systems.
In FY25, NanoScience generated approximately £59m1 of revenue and £1m1 of adjusted operating profit ("AOP"). Having returned the business to growth and profitability, this Sale crystallises this value for shareholders.
Non-recurring transaction-related costs are expected to be approximately £2m- £3m in FY2025/26. Following the sale, approximately £4m of cost which is currently allocated to the NanoScience business will remain within the Group. We expect to begin to mitigate this in FY2026/27.
The divestment will better enable Oxford Instruments ("the Group") to focus on its remaining businesses, which have growth and margin characteristics that will ensure the Group is better placed to deliver value for shareholders.
Given the strength of the balance sheet, the expected cash proceeds from the sale, and in line with its capital allocation policy, the Group plans to return up to £50 million to shareholders via a share buyback, commencing shortly.
Headquartered in the USA, with a global footprint, Quantum Design offers a range of products and services for scientific, academic and industrial research.
The sale is subject to regulatory approvals and is expected to complete in the third quarter of FY2025/26.
CEO Richard Tyson said:
"The sale of our NanoScience quantum business is in line with our strategy to focus and invest in the best areas of opportunity to grow the Group and create value for shareholders, and supports progress towards our medium-term margin targets. It is also consistent with our focus on our three core markets: materials analysis, semiconductor, and healthcare and life science.
"Quantum Design's desire to lead the business through the next stage of its development and investment journey is a testament to NanoScience's talented team and excellent technology."
LEI: 213800J364EZD6UCE231
The person responsible for arranging the release of this announcement on behalf of Oxford Instruments plc is Louise Meads, Interim Company Secretary, Oxford Instruments plc.
Kroll Securities Ltd acted as exclusive financial advisors to Oxford Instruments plc on this transaction. Ashurst LLP were retained as legal counsel.
Enquiries:
Oxford Instruments plc
Richard Tyson, Chief Executive Officer
Paul Fry, Chief Financial Officer
Stephen Lamacraft, Head of Investor Relations Stephen.lamacraft@oxinst.com
MHP Group
Katie Hunt/Tim Rowntree/ 07710 117517
Veronica Farah oxfordinstruments@mhpgroup.com
Notes to Editors
About Oxford Instruments plc
Oxford Instruments provides academic and commercial organisations worldwide with market-leading scientific technology and expertise across its key market segments: materials analysis, semiconductors, and healthcare & life science. Innovation is the driving force behind Oxford Instruments' growth and success, supporting its core purpose to accelerate the breakthroughs that create a brighter future for our world. The vigorous search for new ways to make our world greener, healthier and more productive is driving unprecedented levels of R&D investment in new materials and techniques to support productivity and decarbonisation worldwide, creating a significant opportunity for Oxford Instruments to grow. Oxford Instruments holds a unique position to anticipate global drivers and connect academic researchers with commercial applications engineers, acting as a catalyst that powers real world progress. Founded in 1959 as the first technology business to be spun out from Oxford University, Oxford Instruments is now a global, FTSE250 company listed on the London Stock Exchange (OXIG). For more information, visit www.oxinst.com
1 Unaudited figures