TIDMDMTR
RNS Number : 3779Q
DeepMatter Group PLC
28 June 2022
28 June 2022
DeepMatter acquires AI specialist ChemIntelligence
DeepMatter Group Plc (AIM: DMTR, "Deepmatter", the "Group"), the
digital chemistry data and software company, has acquired
ChemIntelligence SAS (" ChemIntelligence ") in a transaction
valuing the business at up to GBP0.42m.
ChemIntelligence (https://chemintelligence.com/) has artificial
intelligence (AI) that is used to develop chemical products and
reactions faster. The business is based in Lyon, a city known as a
digital centre and its strong links to France's Chemistry
Valley.
The acquisition brings intellectual property and expertise that
complements the Group's chemical reaction data, data collection
platform and AI capabilities. It will also broaden Deepmatter's
technical expertise in chemical formulation, which will enable the
Group to expand its offering and address a broader customer base.
The two businesses will benefit from combined sales and marketing,
operations, customer support and research resources.
ChemIntelligence enables the prediction of the properties of
molecules, materials and formulations, suggesting the most relevant
experiments to perform in a secure, certified end-to-end cloud
environment.
ChemIntelligence unaudited revenue for the financial year ended
31 December 2021 was EUR0.12m, with profit before tax of EUR0.02m.
The gross assets of the Company as at 31 December 2021 were
EUR0.12m
Mark Warne , CEO of DeepMatter, commented:
"The ChemIntelligence team bring considerable expertise which
will strengthen our data and AI capabilities with our current
customers. It will also allow us to reach into new customer
segments.
"Our vision is to combine our proprietary chemistry data with
proprietary algorithms in order to transform how medicines and
other chemical molecules are made, significantly improving
productivity, discovery and sustainability in the field of
chemistry."
The consideration will be payable in three tranches. The initial
consideration will comprise the issue to the vendor of
ChemIntelligence (the "Vendor") 23,333,334 Ordinary Shares (the
"Initial Consideration Shares"), which based on the closing share
price of the Company on 27 June 2022 (being the last business day
prior to the release of this announcement) has a value of GBP0.026
million.
A maximum of 186,666,666 additional Ordinary Shares ("Deferred
Consideration Shares") will be issued to the Vendor depending on
both the share price performance of Deepmatter and the financial
performance of ChemIntelligence for the year ended 31 December 2022
and the year ended 31 December 2023. The vendor has agreed to lock
up provisions covering 24 months after the issue of Ordinary Shares
via the Initial Consideration and 24 months after the earliest
issue date of the Deferred Consideration. Deepmatter has the option
to make any of the Consideration payable in cash.
The maximum value that Deepmatter will pay for ChemIntelligence
is GBP0.42m.
An application will be made to London Stock Exchange plc for the
23,333,334 Initial Consideration Shares to be admitted to trading
on AIM. The Initial Consideration Shares will be issued credited as
fully paid and will rank pari passu with the existing Ordinary
Shares, including the right to receive all dividends and other
distributions (if any) declared, made or paid on or in respect of
such shares after the date of their issue. It is expected that
admission of the Initial Consideration Shares to trading on AIM
("Admission") will become effective and that dealings in the
Subscription Shares will commence on AIM at 8.00am on 4 July
2022.
Following Admission, the Company will have a total of
4,033,230,615 Ordinary Shares in issue. With effect from Admission,
this figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in the
Company, under the Disclosure Guidance and Transparency Rules of
the Financial Conduct Authority.
For more information contact
DeepMatter Group Plc
Fraser Benson, Chief Financial Officer 0141 548 8156
Canaccord Genuity Limited (Nominated Advisor and Broker)
Bobbie Hilliam 020 7523 8000
Meare Consulting
Adrian Duffield 07990 858548
DeepMatter 's SmartChemistry(TM) platform enables scientists
across a range of industries, including pharma, biotech,
agri-science, scientific publishers and contract research
organisations (CROs), to easily capture, access and exploit the
vast amounts of data created in chemical reactions.
DeepMatter integrates its proprietary chemistry data and
proprietary software to significantly improve productivity,
efficiency, discovery, safety and sustainability of chemical
reactions for its customers.
DeepMatter's SmartChemistry(TM) platform capitalises on the
combination of its cloud technology, low cost-sensors, connectivity
to laboratory hardware and high-performance computing trends such
as artificial intelligence (AI).
Visit: www.deepmatter.io and follow @deepmattergroup
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END
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June 28, 2022 02:00 ET (06:00 GMT)
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