German group Merck today said it was acquiring the remaining stake in Qlight Nanotech for an undisclosed sum. Jerusalem-based Qlight Nanotech is a nanotechnology company that has developed a nanocrystal that converts light frequencies to other frequencies with a minimum loss of energy, thereby improving liquid crystal display (LCD) screens and LED lighting.
Qlight was founded in 2009 on the basis of technology developed in Prof. Uri Banin’s laboratory at the Hebrew University of Jerusalem, as a spin-off of Yissum, the technology transfer company. The German pharmaceutical which operates in pharma, biotech, and materials, invested in the company from the beginning in two steps in 2012 and 2013.
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Qlight which employs about 20 people, will remain the quantum materials research centre for Merck’s performance materials division, which accounted for 18 percent of Merck’s sales in 2014, or 2.1 billion euros ($2.3 billion), CEO Karl-Ludwig Kley told reporters in Tel Aviv.
