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 While the terms of the deal were not released, sources close to the company have said the cash portion of the deal is approximately EUR4.06 million (CHF6 million). The value of the equity portion of the agreement remains undisclosed.
"The acquisition will enable Ntera to expand its existing portfolio of nanostructured film intellectual property and to take a further step towards its goal of being Europe's leading nanotechnology group," the company said in a statement.
Ntera Ltd, formerly known as Nanomat, is a developer of intellectual property technologies, particularly in the area of nanostructured films. Its two main products are NanoChromics, a paper quality display technology for the ICT sector, and NanoLyte, a diagnostic sensor for the healthcare sector.
The acquisition of Xoliox adds batteries, an additional application domain, to Ntera's existing product line. Under the terms of the deal Xoliox will continue to undertake research into nanostructuring of materials for battery applications in Lausanne, Switzerland, and the founders of the company will continue to work for Xoliox within the enlarged group.
Nanotechnology is a field of science whose focus includes the creation of minuscule machines, devices and computer chips, often with circuits smaller than one micron (1,000 nanometers). One nanometer is one billionth of a meter, or more than 50,000 times thinner than a human hair.
Recent developments by Xoliox have already made the company a recognised leader in the nanotechnology field. In August, the company announced a technological breakthrough in battery technology. The company's batteries, which are based on unique lithiated metal oxide nanomaterials, will have a major impact on the powering of electric vehicles, power tools and other portable applications.
Xoliox's batteries have charge and discharge rates that are more than 100 times faster than conventional lithium ion battery technologies, enabling the battery to be fully recharged in under one minute. According to the company, the ability to deliver such a high amount of energy in a short space of time, coupled with the low cost of the battery, would for the first time make electric vehicles and hybrid electric vehicles a realistic alternative to the internal combustion engine.
"As well as creating significant value in the group, this acquisition represents a major step forward in Ntera's growth strategy," said Roy Davis, chief executive of Ntera. He said the acquisition of Xoliox would immediately enhance Ntera's intellectual property position and would help the development of other products.
Dr Francois Sugnaux, co-founder and chief executive officer of Xoliox, said, the takeover by Ntera would give Xoliox additional "scientific know-how" as well as managerial experience and capital.
Ntera Ltd was founded in April 1997 as a spin off from University College Dublin to develop and commercialise nanotechnology. Since the company's launch it has raised USD7 million from Cross Atlantic Capital Partners, Evolution Capital and Private investors. Ntera currently employs 47 and can be found at http://www.nanomat.ie.
Xoliox S.A. was formed in 1999 as a private company and is based in the Scientific Park of the Ecole Polytechnique de Lausanne (EPFL), Switzerland. Xoliox currently employs 12.
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