10 June 2025
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 £59m* 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.
*Unaudited figures