Mergers & Acquisitions

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>>> Brooks Automation To Acquire Precise Automation For $70M


Yahoo Finance

by Anusuya Lahiri

April 26, 2021


https://finance.yahoo.com/news/brooks-automation-acquire-precise-automation-124219327.html


Brooks Automation Inc (NASDAQ: BRKS) has inked an agreement to acquire collaborative robots and automation subsystems developer Precise Automation for $70 million.

Precise’s technology enables convenient human-robot workflows via process automation.

Precise’s products are used in laboratory automation and semiconductor and electronics manufacturing end-markets.

Precise’s history of innovation in vision technology, precision motion, integrated controllers and direct-drive motors, and track record of solving customer challenges in laboratory and semiconductor automation made it a great fit with Brooks, Brooks CEO, Steve Schwartz said.

Precise co-founders Brian Carlisle and Dr. Bruce Shimano will join Brooks. Precise produced $17 million in revenue over the last year.

Brooks expected the acquisition to be immediately earnings accretive. It held $323 million in cash and equivalents as of Dec. 31, 2020.

Price action: BRKS shares traded higher by 3% at $105.82 in the premarket session on the last check Monday.

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