Sept. 19, 2002 – Chelmsford, MA – Brooks-PRI Automation Inc., a provider of total automation for the semiconductor industry, has signed a definitive agreement to acquire privately held Berkeley Process Control Inc., a provider of motion and machine control technologies, in exchange for 614,374 shares of Brooks-PRI stock.
At today’s trading price of $13.74 for Brooks-PRI stock, the deal would be worth some $8.44 million.
Berkeley Process Control’s patented Autocalibration technology recently was awarded 300mm system control design wins by two tool manufacturing companies in the semiconductor capital equipment industry.
“The multiple learning cycles that Berkeley Process Control has gained in their 21-year history will be invaluable to Brooks-PRI,” said Chuck McKenna, exec. VP of Brooks-PRI’s equipment automation group. “Their machine, I/O, and motion control technology further strengthens our ability to deliver integrated system solutions for semiconductor OEM’s. In addition, Berkeley’s product offerings in equipment automation for other industries will provide Brooks-PRI with new entry points into the broader general automation market.”
The Brooks-PRI shares are subject to adjustment depending upon the performance of Berkeley in the quarter ended December 31. The purchase method of accounting will be used to account for the transaction, which is expected to close by calendar year end and be accretive to Brooks-PRI in the first full quarter after its completion.