Rigaku acquires handheld Raman spectrometer business from BaySpec

The Woodlands, TX – October 14, 2011 – Rigaku Americas Corporation is pleased to announce the acquisition of the handheld Raman technology and product lines from BaySpec, Inc. and the concurrent formation of a new division, Rigaku Raman Technologies Inc., for R&D, engineering, production, marketing and distribution. Mirus Securities advised Rigaku on the transaction.

Rigaku’s new handheld Raman instruments combine patented optics and proven spectral analysis techniques with state-of-the-art, low-cost Telecom-developed optical components, providing our customers with fast, economical, easy to use, handheld chemical identification and composition analyzers for explosives detection, including improvised explosive device (IED) detection; narcotics and other controlled substances detection and identification; counterfeit drug detection, food contaminant detection; and detection and identification of many other sample types; for homeland security; pharmaceutical, cosmetics, food, wine, beer and agricultural feed quality assurance and quality control; medical diagnostics; petrochemical exploration and process control; forensics; archeometry; and many other applications.

Led by analytical technology entrepreneur Hal Grodzins, as President and CEO, the new company will be co-located in San Jose, California and The Woodlands, Texas. Initial offerings will comprise the FirstGuard™ and Xantus™ series product lines, covering sample excitation wavelengths of 532 nm, 785 nm and 1064 nm.

About BaySpec

BaySpec, Inc., founded in 2000 with 100% research, development and manufacturing in the USA (San Jose, California), is a vertically integrated spectral sensing company. The company designs, manufactures and markets advanced spectral instruments including UV-VIS-NIR spectrometers, NIR and Raman Analyzers, soft-cooled and deep-cooled detectors and cameras, laser and other light sources and micro-spectroscopy instruments. BaySpec’s products are ideally suited for challenging biomedical, pharmaceutical, chemical, food, semiconductor, homeland security, fiberoptic sensing and optical telecommunications applications.

About Rigaku

Founded in 1951, the Rigaku companies are global leaders in the development, manufacturing and sales of laboratory and industrial x-ray diffractometers and spectrometers; small molecule and protein crystallography instrumentation; sealed and rotating anode x-ray generators; x-ray optics and imaging systems; high-performance rotary magnetic fluid feed-throughs; thermal analysis instrumentation; automated sample preparation and analysis solutions; and non-destructive testing (NDT) products. Rigaku employs more than 1,100 people in the development, manufacturing, marketing and support of its analytical equipment. Its products are used in more than 70 countries around the world – supporting research, development, and quality assurance activities. Throughout the world, Rigaku continuously promotes partnerships, dialog, and innovation within the global scientific and industrial community.

About Mirus Capital Advisors:

Mirus Capital Advisors provides investment banking solutions to corporate clients in technology, business services, manufacturing and distribution. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. For additional information, visit www.merger.com.