Asylum Research has been acquired by Oxford Instruments. Asylum Research is being acquired from its management for an initial debt free, cash free consideration of US$32.0 million with a deferred element of up to US$48.0 million payable over three years dependent on its performance over that period. Asylum Research generated Earnings Before Interest and Taxation (EBIT) of $1.1 million in the twelve months to December 31, 2011 from revenue in the same period of $19.6 million. It had gross assets of $6.2 million as at December 31, 2011. The acquisition will be funded from existing facilities. Asylum Research will remain in Santa Barbara, CA and keep its current management structure with co-founders Dick Clark, Chief Financial Officer, Roger Proksch, President, and Jason Cleveland, Chief Executive Officer.