Merck KGaA (MKGAY.PK) said it is acquiring an interest in Israeli start-up company QLight Nanotech. QLight Nanotech is a spin-off subsidiary of Yissum, the technology transfer company of the Hebrew University of Jerusalem.
With this investment Merck will hold an equity stake in the Israel start-up company. Further financial details were not disclosed.
Merck's investment would help the company to accelerate the development of quantum dot-based technology for new applications. Upon the achievement of R&D milestones, Merck could further raise its stake in Qlight Nanotech, as well as develop and commercialize the new products in its Performance Materials division.
The deal is expected to close in the second quarter of 2012.
by RTT Staff Writer
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