Transaction Will Enhance Customer Intimacy in an Important Market
HILLSBORO, Ore., Aug. 1, 2013 (GLOBE NEWSWIRE) -- FEI Company (Nasdaq:FEIC), a leading instrumentation company providing imaging and analysis systems for science and industry, today announced that it has agreed to purchase nanoTechnology Systems Pty. Ltd. (NTS) of Melbourne, Australia. NTS has 15 employees primarily engaged in sales and service and has been FEI's distributor for over 10 years. NTS has been an important part of FEI's growth in Australia and New Zealand, including the development of the Natural Resources market. NTS also has incremental service and spare parts revenue related to FEI products. FEI expects the acquisition to be completed within the next two weeks and to be slightly accretive to earnings per share in the second half of 2013.
"This transition from a distributor sales and service model to a direct presence in Australia and New Zealand is part of our ongoing program to expand our global presence and increase customer intimacy," said Benjamin Loh, executive vice president and chief operating officer of FEI. "Our Natural Resources business has grown from two small acquisitions in Brisbane, and NTS has been an important part of helping to build that business, as well as selling and servicing FEI products across the full range of our markets."
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 2,500 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 and the impact on earnings per share of the acquisition by FEI of nanoTechnology Systems Pty. Ltd. (NTS). Factors that could affect these forward-looking statements include but are not limited to: the ability of FEI to successfully integrate NTS's operations; unplanned negative responses from Australian customers to the transition; unexpected employee turnover in NTS employees and unexpected additional expenses in the acquired sales and service business. 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.
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