Varian Purchases Oxford Diffraction For $37 Million

PALO ALTO, Calif. (AP) -- Laboratory equipment maker Varian Inc. said Monday it bought privately-held Oxford Diffraction for about $37 million in a move to broaden its instrument and product offerings.

 

Varian makes a range of products, including mass spectrometers and sample preparation equipment. U.K.-based Oxford makes X-ray crystallography products, an analytical technique used to determine the structure of small and large molecules. Both companies serve research laboratories and drug developers.

 

The buyout price includes cash and assumed debt, Varian said. Also, the deal includes the potential for $10 million in performance payments over the next three years.

 

Varian shares closed at $59.76 Friday.