Merck KGaA, Darmstadt, Germany, has signed a definitive agreement to acquire Intermolecular Inc. through a subsidiary for $1.20 per share in an all cash transaction, representing an equity value of approximately $62 million. The acquisition has been unanimously approved by the Executive Board of Merck KGaA and by Intermolecular’s Board of Directors.
 
“Intermolecular’s unique capabilities in rapid materials screening, in combination with the R&D pipeline of Merck KGaA, Darmstadt, Germany, will allow us to offer our customers faster materials innovation and device integration, through parallel composition experiments with full performance testing and characterization,” said Kai Beckmann, member of the Executive Board of Merck KGaA, Darmstadt, Germany, and CEO of Performance Materials.
 
Intermolecular is a California-based company leading in advanced materials innovation. Intermolecular’s fabrication and testing capabilities allow for material combinations to be tested directly within the specific target application. 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. Intermolecular reported annual sales of $33.7 million in FY2018 and employs approximately 90 people.
 
The transaction is expected to close in the second half of 2019, subject to the approval of Intermolecular’s stockholders, regulatory clearances and the satisfaction of other customary closing conditions.
 
Merck KGaA, Darmstadt, Germany, will acquire Intermolecular through its subsidiary EMD Group Holding II, Inc.