O'Melveny Represents Xradia in Acquisition by ZEISSJune 13, 2013
FOR IMMEDIATE RELEASE
SILICON VALLEY ─ June 13, 2013 ─ O’Melveny & Myers LLP represented Xradia Inc. in its agreement to be acquired by ZEISS. Xradia makes innovative 3-D X-ray microscopes for industrial use and academic research.
The O’Melveny team was led by partners Brian Covotta and Warren Lazarow, along with associate Tim Hagen. Partners Robert Fisher and Eric Amdursky advised on tax and employment issues, respectively, and counsel Gilbert Villaflor and Warren Fox advised on IP and executive compensation.
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The following release was recently issued by ZEISS:
ZEISS to acquire Xradia to complement its microscopy business
Expanding from light and electron microscopy into X-ray microscopy solutions
OBERKOCHEN/Germany, PLEASANTON/California/USA , 13.06.2013.
ZEISS, the international leader in the fields of optics and optoelectronics today announced the planned acquisition of the US-based Xradia, Inc. Xradia is an medium-size company providing innovative 3D X-ray microscopes for industrial and academic research applications. The closing of the transaction is subject to the fulfillment of customary closing conditions including a required filing with the U.S. competition authorities. After closing, Xradia, Inc. will operate under the new name Carl Zeiss X-ray Microscopy, Inc.
X-ray microscopes help to advance innovation in science and industry and can be used for many applications. During the last years Xradia recorded strong growth in revenue, profits, and number of employees based on its excellent technology position meeting customer needs worldwide. Xradia has become a provider of established solutions for advanced material research, natural resources and geology, semiconductor process optimization as well as the life sciences. Both parties have agreed to keep the purchase price confidential.
“For ZEISS the microscopy business is a strong pillar in its portfolio. The investment in Xradia underlines our strategy to grow with the most innovative and future-oriented technologies”, stated Dr. Michael Kaschke, President and CEO of Carl Zeiss AG. “The decision to acquire Xradia was made after careful consideration of its product lines as well as sales and service coverage. By combining the product lines, ZEISS will be able to better serve the growing demands in multimodal microscopic imaging and to develop solutions which create new values for our customers in science and industry.”
Dr. Ulrich Simon, head of the ZEISS Microscopy business group further said: "This step is extremely exciting for us as it demonstrates our clear focus to take microscopy to the next level. Based on our unique portfolio of light, electron and ion microscopes, we are now adding the capability of 3D imaging within objects at unprecedented resolution using X-ray microscopy. This will enable new applications and make the workflows in multimodal imaging easier and more efficient to use for our customers worldwide."
“We could not be more pleased than to join such an outstanding and well-regarded global organization as ZEISS. Xradia’s significant growth over the past years demonstrates the value of high resolution 3D X-ray microscopy for researchers worldwide. The additional resources offered by ZEISS will undoubtedly facilitate even more rapid growth of X-ray microscopy solutions as well as provide additional value for our existing customer base.”, adds Rod Browning, President and CEO of Xradia, Inc.
Carl Zeiss AG
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Carl Zeiss Microscopy
Phone.: +49 3641 64-3949
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