DeepMatter announces placing and conditional acquisition of InfoChem 07/02/2019
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Bristows’ client DeepMatter Group Plc is an AIM-listed company focusing on digitizing chemistry. Through its platform “DigitalGlassware”, DeepMatter provides an integrated software, hardware and artificial intelligence tool to scientists in the research and development sectors. DeepMatter’s long term strategy is to integrate chemistry with technology to enable a greater use of AI and ultimately reach a point where chemicals can be autonomously synthesised through robotics.
DeepMatter has agreed to acquire from global publisher Spinger Nature the entire issued share capital of InfoChem GmbH based in Munich, Germany. DeepMatter believes the acquisition will assist in the accelerated development of its DigitalGlassware platform and provide specialist staff, recurring revenue and an additional sales channel. The acquisition is conditional on a placing of new Ordinary Shares through which DeepMatter intends to raise a minimum of £3m.
The proceeds of the placing will be used to further finance ongoing DigitalGlassware technology development including integration of cheminformatics capabilities, data science, manufacture and for the working capital requirements of the DeepMatter Group.
Separately, DeepMatter’s wholly-owned subsidiary OpenIOLabs has disposed of its scanning ion conductance microscope business to Scientific Digital Imaging Plc, by way of an asset purchase agreement.
Bristows advised DeepMatter on the acquisition of OpenIOLabs in 2017 and the DeepMatter Group has retained the assets core to its continuing operations.
Members of the Bristows
Corporate team that advised on the acquisition, placing and disposal included:
Julia Cockroft, provided tax advice to DeepMatter and Senior Associate, Rebecca Andersen, provided commercial and IP/IT advice.
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