Kai Beckmann, member of the executive board of Merck and CEO of Performance Materials (Merck)
Science and technology firm Merck announced Wednesday the launch of Performance Materials, a newly integrated body comprising of recently acquired US-based chemicals and materials firms and its existing semiconductor solutions unit.
Merck had acquired Intermolecular, a California-based company for advanced materials innovation in September last year. The following month, Merck completed the acquisition of Versum Materials, an Arizona-based company and a major materials supplier to the semiconductor industry.
“Through the integration of Versum Materials and Intermolecular, we have set the course for future growth. Our product and service portfolio is designed to enable technological progress in the face of ever-increasing amounts of data,” said Kai Beckmann, member of the executive board of Merck and CEO of Performance Materials.
Performance Materials complements what each component company had individually lacked, and the synergy will produce and annual 75 million euros ($84 million) revenue as of 2022, Merck said.
“In these times, our contribution to enable connectivity and to advance IT infrastructure is more relevant than ever. We are the company behind other companies’ advancing digital living,” Beckmann said.
Semiconductor solutions business experienced a boost in growth in the first quarter of 2020 despite the challenging situation amid the COVID-19 pandemic, Merck said.
The latest integration is part of Merck’s Bright Future transformation program launched in 2018 that pivots around customer-centric business.
Merck foresees the growing demands in 5G, big data, autonomous driving and the internet of things technologies will leverage the rise of electronics materials market.
By Lim Jeong-yeo (email@example.com