Merck, a science and technology company, announced that its proposed transaction with Intermolecular, was approved by the stockholders of Intermolecular at a special meeting held on July 17, 2019. On May 6, 2019, Merck had signed a definitive agreement to acquire Intermolecular through a subsidiary for $1.20 per share in an all cash transaction, representing an equity value of approximately $62 million.
“We are very pleased with this positive development of Intermolecular’s stockholders approving our acquisition proposal. Uniting our existing strength in the materials business with Intermolecular’s unique processes and R&D capabilities will allow us to create game changing innovations in the electronics material space. Together, we expect to provide our customers with an enhanced combination of material and process know-how strengthening our service provider capabilities,” said Kai Beckmann, member of the Executive Board of Merck and CEO of Performance Materials.
The transaction is expected to close in the second half of 2019, subject to regulatory clearances and the satisfaction of other customary closing conditions. Intermolecular is a California-based company leading in advanced materials innovation. Intermolecular possesses application specific materials expertise, accelerated learning and experimentation platforms with powerful analytics infrastructure that perfectly complement the business and technology portfolio of Merck’s Performance Materials business. Intermolecular’s fabrication and testing capabilities allow for material combinations to be tested directly within the specific target application for semiconductors, consumer electronics, aerospace and many other industries. In comparison to conventional methods these capabilities translate to major time reductions in the development process, dramatically accelerated learning cycles and insights into novel material systems to provide customers with a unique service value.
Merck will acquire Intermolecular through its subsidiary EMD Group Holding II.
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Merck, a science and technology company, unveiled the next component of its Bio Continuum Platform, the Bio4C Software Suite, creating a first-of-its-kind ecosystem that combines process control, analytics and plant-level automation. This transformative software suite will allow users to look across the entire manufacturing process versus individual operational units, giving biomanufacturers complete process control and deep insights, bringing Bioprocessing 4.0 to the here and now.
“The future of bioprocessing is holistic,” said Andrew Bulpin, head of Process Solutions, Life Science, at Merck. “With the launch of our Bio4C Software Suite, Merck is the first supplier to converge advanced process technologies with software, automation and analytics into one ecosystem, bringing us another step closer to making the digitally enabled facility of the future a reality.”
Biopharmaceutical companies today are under immense pressure to get products to market faster, with every day of delay costing millions in lost revenue. An emerging solution is the integration of software, automation and analytics into biomanufacturing facilities’ operations to intensify biologic production, with a vision toward connected and continuous processing. The biopharmaceutical industry is on a journey to evolve and digitize the next generation of bioprocessing to increase speed and lower costs. Bioprocessing 4.0 signifies this new approach to manufacturing. The Life Science business of Merck has been a key driver of this evolution through its Bio Continuum Platform.
Merck’s Bio4C Suite was designed based on the “4C strategy” of its Life Science business: control, connect, collect and collaborate. Control is the basis of everything Merck does to run all of its systems. Connect refers to making digital connections between different process steps and giving that visibility to the entire process. Collect is the ability to gather all data into one place and maintain and validate the integrity of that data. Collaborate is how Merck will deliver these technologies to its customers in real time.
Bio4C ProcessPad, part of the “Collect” dimension of the Bio4C Suite, is a browser-based platform that allows users to acquire, aggregate and analyze data from disparate sources such as equipment, batch records, databases and historians across the bioprocess. The Bio4C ProcessPad automates the data acquisition and analysis tasks, freeing scientists and engineers to minimize the time to decision and action. Merck will roll out further Bio4C Software Suite products and modules throughout 2020 and into the future.
Merck, a science and technology company, will hold its Annual General Meeting this year in virtual form on May 28. The company is thus making use of the possibilities afforded by the German legislator in view of the coronavirus pandemic. Within the scope of the Annual General Meeting, a resolution on the dividend proposal of € 1.30 per share will also be voted on. Payment is planned for June 3.
The Annual General Meeting will be publicly webcast in its entirety on the Internet. Physical participation is not possible. The invitation will be published by May 7, in keeping with the official deadline. Notes on exercising shareholder rights and further information on the virtual Annual General Meeting will be available as of May 7 on the website www.merckgroup.com/agm and in the invitation.
Merck had already announced back in March that it would postpone its Annual General Meeting originally planned for April 24 and hold it in virtual form as soon as possible in order to protect the health and safety of employees and shareholders.