OxMet Technologies Limited Acquires Betatype Group Limited, Accepts Investment from JX Nippon Mining and Metals
OxMet Technologies Limited has announced the acquisition of Betatype Group Limited and an investment from JX Nippon Mining and Metals Corporation, increasing OxMet’s design capabilities and collaboration opportunities.
OxMet Technologies Limited, the Oxford, UK-based operator of a computational platform for the rapid design and development of advanced alloys, today announced two transactions which will transform its business: the acquisition of Betatype Group Limited, a world leader in the processing and component design technologies that are key to unlocking the potential of metal additive manufacture, and an investment of £6.2m from JX Nippon Mining and Metals Corporation, a global manufacturer of non-ferrous resources and materials and the majority owner of Toho Titanium and H.C. Starck Tantalum and Niobium.
The merged company which will result from the acquisition of Betatype will have design capabilities at every length scale, from a complete component to the composition of the alloy from which it is made, and will allow the same world-class metallurgical expertise with which OxMet designs alloys to be applied to process parameter optimisation and component design.
As well as receiving equity investment from JX, OxMet will collaborate with JX to develop novel alloys for both traditional and additive manufacture, and to build joint business in Japan, where OxMet will be opening an office in February 2020.
Sarat Babu, founder and Chief Executive Officer of Betatype, will join the Board of the combined Company as Chief Digital Officer, and JX will also appoint a director and an observer to the Board.
The markets in which the new company is already active include the aerospace, automotive, medical, and electronics markets, in all of which additive manufacture, and the new generation of alloys required to capitalise on it, have transformational potential to reduce component count, shorten lead times, and enable more robust supply chains.
Michael Holmes, CEO of OxMet, said “JX’s investment, and the transaction with Betatype it enables, create a company with an unequalled mix of capabilities and partnerships and compelling offers in a wide range of markets. The management team is looking forward to working with JX to ensure the Company and the relationship can fulfil their potential”.
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