About Ormet Circuits, Inc.

Brief:

Merck KGaA, Darmstadt, Germany, Acquires Ormet Circuits

• Acquisition to enhance position as semiconductor materials supplier

• Deal complements existing Integrated Circuit Materials business unit

Darmstadt, Germany, December 14, 2015 Merck KGaA, Darmstadt, Germany, a leading science and technology company, today announced that it has acquired Ormet Circuits Inc., to strengthen its position as a materials supplier for the semiconductor industry.

Ormet is an early-stage, venture-capital-backed business located in San Diego, California. It has previously been owned by various institutional and private investors, of which PEI Funds, a US-based investment company, was the single largest shareholder. Merck KGaA, Darmstadt, Germany, has already held a minority stake in Ormet and has now taken over all remaining shares. The parties have agreed not to disclose the purchase price.

Ormet has developed conductive pastes based on a unique environmental friendly technology which can solve technical challenges in semiconductor packaging. This is particularly interesting due to the growing demand for highly integrated devices such as mobile phones or wearables, said Rico Wiedenbruch, Head of the Integrated Circuit Materials business unit. Semiconductor packaging is the final stage of semiconductor device fabrication in which the device is assembled and encased.

Ormets pastes utilize a novel, patented sintering technology. This technology makes it possible to replace lead-based solders used in semiconductor applications, as well as enhance the reliability of devices when they are operating at elevated temperatures.

The companys Integrated Circuit Materials business unit, part of the Groups Performance Materials business sector, already has a strong position as a semiconductor materials supplier. Ormets technology will now allow Merck KGaA, Darmstadt, Germany, to further strengthen this position and will diversify the product portfolio.

Merck KGaA, Darmstadt, Germany, is counting on innovative technologies to tap into additional growth areas in the electronics industry to benefit even more from the increasing demand for electronic devices beyond displays. By combining various competencies, the company will be in an even stronger position in the future to serve the demand for materials with increasingly complex functionalities.

About Ormet

Headquartered in San Diego, CA, Ormet Circuits, Inc. is a clean tech materials company that manufactures conductive pastes for the semiconductor, assembly and printed circuit board industries. Ormet materials comply with RoHS, and the company adheres to a strict conflict minerals policy while practicing sustainable methods in their manufacture. Supplementary information can be found at http://ormetcircuits.com.

PCB Interconnect Materials

High Density Interconnects (HDI) in Printed Circuit Boards have traditionally been made using electroplating. However, advanced requirements in ball grid array density, high PCB layer counts, and fine diameter vias have created the need for paste solutions. Because the PCB layers connected by paste may be tested individually, as opposed to the sequential electroplating process which can only be tested in its final form, overall yields are significantly improved. Also, the Ormet process requires a substantially lower capital investment and is much more environmentally friendly than conventional plating lines.

Power Die Attach

The electronics industry is pushing forward to reduce the use of hazardous materials in the manufacture of components and assemblies. Ormet is working with the leaders in the power semiconductor industry to commercialize the next generation lead-free die attachment material for power semiconductor devices. Ormet pastes are demonstrating excellent electrical and thermal performance for MOSFETS in power QFN packages, and IGBTs in high performance power modules.

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