MATTHEW BYATT
Managing Partner
ZEISS has developed the ion trap mass spectrometer iTrap, a technology for highly sensitive, real time gas analysis. The technology is used for process analytics and advanced process control in the semiconductor market. iTrap can analyze important chemical processes in vacuum chambers of semiconductor manufacturing equipment and other applications giving important insights into process dynamics and can also enable process control. That is the first external sale of a ZEISS venture. The innovation will benefit from better market synergies that are available outside of ZEISS.
Atlas Copco will integrate iTrap in the Edwards business to synergize with other vacuum technology solutions of the worldwide market leader. At Edwards, the technology will benefit from a worldwide sales and service network as well as from innovation and application centers close to all relevant major customer sites worldwide.
The asset deal comprises the sale of the technology including intellectual properties and the transfer of key employees. Both parties have agreed not to disclose the purchase price or other details of the agreement. Completion of the transaction was on 3 August 2020.
Gerrit Schulte, Head of ZEISS Ventures and Daniel Ritter, Head of ZEISS M&A:
“We selected Acuity as advisors in this process because of their semiconductor expertise and strong network of industry contacts. Both proved essential in crafting the right selling messages, identifying the optimal partner and ultimately structuring a transaction which aligned all parties’ interests.”
Matthew Byatt, Managing Partner at Acuity Advisors:
“The iTrap is another example of the ZEISS culture of engineering excellence. Starting with an idea and from scratch eight years ago, the iTrap team developed and built a technology which allows its customers to understand for the first time the chemical processes in the vacuum chamber in real time – an advance which in turn will unlock material yield improvements and create substantial value in the production process. It was exciting to support the ZEISS team in finding the ideal strategic partner. Edwards is perfectly positioned to help iTrap in its next phase of growth and we wish them much success. Being the most successful mid-market advisor in the semiconductor sector enabled us to add real value in this project. We demonstrated our comprehensive understanding of the industry, an ability to grasp complex engineering concepts and we accessed our international network to find exactly the right buyer in Edwards.”
“We selected Acuity as advisors in this process because of their semiconductor expertise and strong network of industry contacts. Both proved essential in crafting the right selling messages, identifying the optimal partner and ultimately structuring a transaction which aligned all parties’ interests.”
GERRIT SCHULTE & DANIEL RITTER | Head
ZEISS Ventures & ZEISS M&A
Matthew is a Co-Founder and Managing Partner at Acuity and leads the Acuity Advisors’ Deeptech practice.
Matthew has held senior leadership and corporate finance positions with some of the UK’s most successful and influential technology and consultancy companies. Roles with ARM, McKinsey and Cadence have given Matthew an exceptional insight into the world’s most successful businesses and a number of the UK’s eminent start-ups, underpinning his success at Acuity.
Matthew has considerable experience across a broad range of technology sectors throughout the UK, US and Asia, ranging from nanotechnology, semiconductor and cleantech to digital media and internet businesses. It’s experience that has given him a robust, well-developed and international network. Having also run and successfully exited his own business, Matthew has a deep understanding of the financial and emotional aspects of this demanding process, bringing a unique and authoritative perspective to each business sale.
One of Matthew’s strengths is understanding complex technical value propositions, one of the benefits of training as an electronic engineer. He gets to the heart of what drives a company’s value and communicates this persuasively to potential buyers and investors. Matthew understands a buyer’s motivation intuitively and delivers a compelling rationale for why a business sale should be of strategic interest. His insight consistently yields higher deal values and results in great successes for his clients.
