DeepMatter boosts AI offer with French deal
DeepMatter Group, the Glasgow-based digital chemistry data and software company, has acquired French company ChemIntelligence in a transaction valuing the business at up to £0.42m.
ChemIntelligence has artificial intelligence (AI) that is used to develop chemical products and reactions faster. The business is based in Lyon, known as a digital centre and its strong links to France’s Chemistry Valley.
The acquisition brings intellectual property and expertise that complements DeepMatter’s chemical reaction data, data collection platform and AI capabilities. It will also broaden its 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 posted unaudited revenue of €0.12m for the financial year ended 31 December 2021, with profit before tax of €0.02m. The gross assets of the company as at 31 December 2021 were €0.12m.
Mark Warne, CEO of DeepMatter (pictured), 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.”