Merck, the German science and technology group, said Friday it is changing the name of its performance materials business to electronics.

The renaming is part of a strategic realignment it has made since 2018 under its “Bright Future” transformation program.

“The renaming of our business sector to Electronics is a logical step for us,” said Kai Beckmann, member of the executive board of Merck and Electronics CEO. “After all, the new name underscores our strategic focus on the electronics industry. At the same time, it clearly illustrates our contribution to a world characterized by tremendous technological advances and exponential data growth.”

Merck’s electronics business covers a particularly broad range of products and solutions, including high-tech materials and solutions for the semiconductor industry as well as liquid crystals and OLED materials for displays, and effect pigments for coatings and cosmetics.

It is already involved in major technology trends, ranging from 5G, big data, autonomous driving, artificial intelligence to Internet of Things, the company explained.

The name change will not have any effect on the existing organizational structure of the business sector, which comprises the three business units semiconductor solutions, display solutions and surface solutions, it said.

Merck acquired Intermolecular and Versum Materials in 2019 and integrated them into the former materials business.

Through the acquisition of Versum Materials, the company has expanded its portfolio to include innovation-driven, ultrahigh-purity process chemicals, gases and equipment for semiconductor manufacturing.

By Song Su-hyun (song@heraldcorp.com)