DeepMatter, the AIM-listed company focusing on digitising chemistry, has agreed to acquire from global publisher Springer Nature the entire issued share capital of Infochem GmbH, a specialist in cheminformatics, for a total consideration of approximately €2.0 million to be satisfied as to €0.36 million in cash and 68,400,000 new ordinary shares in the capital of the Company. The Company also announces that it intends to raise a minimum of £3.0 million by way of a proposed placing of New Ordinary Shares at a price of 2.5 pence per share.
Founded in 1989, Infochem is based in Munich, Germany, and is owned by Springer-Verlag GmbH, part of the Springer Nature and has 25 employees. It has extensive scientific expertise and a long tradition in developing successful software solutions for handling retrieval, structures and reactions. Its established base of users is in the same industries as those being targeted by the Company.
In the Directors' opinion, the acquisition will accelerate the Company's strategy by providing cost effective access to established data sources and chemical information software tools, assisting in the accelerated development of the DigitalGlassware™ platform, as well as providing specialist staff, recurring revenues and an additional sales channel.
The total consideration payable for the acquisition of approximately €2.0 million comprises a payment in cash of €0.36 million and the issue of the Consideration Shares (comprising 25,600,000 Initial Consideration Shares and 42,800,000 Deferred Consideration Shares). Given that Infochem will have €0.48 million of cash on its balance sheet, the acquisition will be a net cash positive deal for DeepMatter.
The Enlarged Group will be strengthened both technically, operationally and financially as it focuses on building credibility, awareness and understanding of the DigitalGlassware™ platform before rolling it out in full to the broader scientific community.
Bettina Goerner, Managing Director Database Research Group at Springer Nature, will be appointed to the DeepMatter board as a Non-Executive Director, with effect from completion, strengthening the relationship between the two companies.
Brought to you by Scope e-Knowledge Center, a trusted global partner for digital content transformation solutions - Abstracting & Indexing (A&I), Knowledge Modeling (Taxonomies, Thesauri and Ontologies), and Metadata Enrichment & Entity Extraction.
