Chelmsford, MA – Brooks Automation Inc. completed the acquisition of PRI Automation on May 14.
New company name is Brooks-PRI Automation Inc., and it will continue to trade under the ticker symbol BRKS on the NASDAQ stock market.
The transaction is a tax-free, swap of stock valued at $536 million at a fixed ratio of 0.52 shares of Brooks to 1 share of PRI.
With combined FY01 revenues of $650 million, Brooks-PRI is roughly double the size of its nearest competitor and the world’s eleventh largest semiconductor capital equipment supplier according to a survey released in April 2002 by the independent market research firm, Gartner Dataquest.
“Through the acquisition of PRI, Brooks gains key technologies in the areas of atmospheric robotics, reticle automation, factory software, and fab infrastructure support to strengthen our position in the markets that we already serve, as well as giving us an entry into the area of automated material handling systems,” said Robert Therrien, president and CEO of Brooks-PRI Automation.
“The greatest asset of this combined organization is the newly created pool of intellectual capital that is dispersed worldwide. The new company, Brooks-PRI, is positioned to deliver total automation to the semiconductor industry, enabling our customers to accelerate their time to market, reduce risk, and increase their operational efficiency. We feel strongly that the automation market growth forecasted over the next four years and our product positioning in this market represents a major opportunity for Brooks-PRI and its shareholders,” he said.