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The latest announcement is out from XRF Scientific Limited ( (AU:XRF) ).
XRF Scientific has agreed to acquire Bruker AXS SE’s Combustion Gas Analysis business, which produces four CS/OHN analysers using hot extraction, inert gas fusion and combustion by induction heating for rapid elemental analysis. The product line, to be rebranded under XRF names such as G4 Icarus, serves nuclear materials, rare earths, powder metallurgy, welding, mining, metals, cement, glass and ceramics producers worldwide.
The CGA unit generated unaudited revenue of USD 5.3 million in 2025 from instruments, spare parts and service, with sales concentrated in Europe, North America and Asia and largely channelled through distributors that XRF intends to retain and grow. Manufacturing will shift from Karlsruhe, Germany, to XRF’s Perth facility under a transition plan running to Q3 2026, with key sales and technical staff in Germany and the U.S. joining XRF and revenue expected to begin after production transfer in Q4 2026.
XRF is paying USD 4 million in cash, funded from existing reserves and including about USD 0.8 million of inventory and demo units, plus an earn-out of up to USD 1 million over three years based on 7% of net CGA revenue. Management describes the deal as a low-risk bolt-on acquisition that broadens its analytical portfolio, opens new non-mining industries, adds consumable revenue streams and creates cross-selling opportunities alongside products such as xrTGA, Labfit CS-1232 and xrFuse.
The most recent analyst rating on (AU:XRF) stock is a Buy with a A$2.30 price target. To see the full list of analyst forecasts on XRF Scientific Limited stock, see the AU:XRF Stock Forecast page.
More about XRF Scientific Limited
XRF Scientific Limited is an Australian manufacturer of analytical instruments and sample preparation equipment used across mining, metals, manufacturing and related industrial sectors. The company supplies technologies such as x-ray fluorescence systems and complementary analysers to a global customer base, often via third-party distributors, and is focused on expanding into non-mining industrial markets.
Average Trading Volume: 198,763
Technical Sentiment Signal: Buy
Current Market Cap: A$264.6M
For detailed information about XRF stock, go to TipRanks’ Stock Analysis page.