Oxford Instruments has sold the unit that makes dilution fridges used by supercooled quantum computers.

The company this week announced it has entered into a binding agreement to sell its quantum-focused business, Oxford Instruments NanoScience, to Quantum Design for £60 million ($81.5m). The sale is subject to regulatory approvals and is expected to complete in the third quarter of 2025.

NanoScience designs, supplies, and supports research tools that enable quantum technologies. It develops much of the support equipment required to keep quantum computers at the supercooled temperatures required to operate.

The company is known to work with quantum computing firms Oxford Quantum Circuits and Rigetti.

In the financial year 2025, NanoScience generated approximately £59m ($80.1m) of revenue and £1m ($1.35m) of adjusted operating profit.

“The divestment will better enable Oxford Instruments to focus on its remaining businesses, which have growth and margin characteristics that will ensure the group is better placed to deliver value for shareholders,” Oxford Instruments said.

US-based Quantum Design offers products and services for scientific, academic, and industrial research. Founded in 1982 in San Diego, California, the company provides scientific instrumentation technology for researchers in the fields of physics, chemistry, biotechnology, materials science, and nanotechnology.

“I am excited to accelerate Quantum Design and NanoScience business units into the future with the extensive synergistic capabilities of these two great leaders in cryogenic measurement and instrumentation,” said Stuart Schoenmann, CEO of Quantum Design. “NanoScience’s historic Tubney Woods factory will expand our global manufacturing footprint with significant facilities that were the birthplace of superconducting magnet technologies.”

The firm already offers helium liquefiers and compressors for cryogenic systems, but has not previously offered the dilution fridges (aka cryostats) that house quantum processors to keep them cold.

Quantum Design said the acquisition brings together its physical property measurement systems and NanoScience’s ultra-low-temperature cryogenics instrumentation.

“The synergy of complementary products and expertise will enable the combined companies to bring new and exciting products to the marketplace to advance cryogenic science and technology,” Quantum Design said.

Oxford CEO Richard Tyson added: "The sale of our NanoScience quantum business is in line with our strategy to focus and invest in the best areas of opportunity to grow the Group and create value for shareholders, and supports progress towards our medium-term margin targets. It is also consistent with our focus on our three core markets: materials analysis, semiconductor, and healthcare and life science.”

Tyson continued: "Quantum Design's desire to lead the business through the next stage of its development and investment journey is a testament to NanoScience's talented team and excellent technology."

Oxford Instruments was founded in 1959 as the first commercial spin-out from Oxford University. It designs and manufactures tools and systems for industry and research, and was the first company to develop MRI scanners.

Blufors is the other large incumbent in the dilution fridge space serving quantum computing firms, but a raft of new startups are also entering the market.