DeepMatter Group PLC DeepMatter acquires AI specialist ChemIntelligence (3779Q)

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RNS Number : 3779Q

DeepMatter Group PLC

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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June 28, 2022 02:00 ET (06:00 GMT)

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