The Darmstadt-based company, Merck, intends to strengthen its specialty chemicals business with a further acquisition. The DAX-listed company is buying the Californian company Intermolecular for around $62 million(55.4 million euros), Merck announced on Monday. A corresponding agreement has been signed, the company said.
The acquisition of the materials specialist through a subsidiary for $1.20 per share in an all cash transaction will strengthen Merck's technological offering in the semiconductor business. The transaction is expected to be completed in the second half of 2019, subject to the approval of Intermolecular shareholders and the regulators.
Intermolecular has test and manufacturing capacities that allow for material combinations to be tested directly within the specific target application. This will enable Merck to offer its customers faster materials innovation, says Merck board member Kai Beckmann. Intermolecular, which has around 90 employees, achieved sales of $33.7 million in 2018.
In mid-April, Merck reached an agreement with the U.S. semiconductor supplier Versum on a $6.5 billion acquisition including debt. With the purchase of the manufacturer of specialty gases and chemicals, Merck wants to strengthen its specialty chemicals business and focus more on the electronic materials sector. The deal is also expected to be concluded in the second half of the year.
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