16 May 2002
Brooks Automation completes PRI acquisition
Chelmsford, Mass. - Semiconductor automation systems supplier Brooks Automation Inc. said today it has completed acquiring PRI Automation, another semiconductor industry supplier. The combined company will do business under the name Brooks-PRI Automation, Inc.
Brooks said the transaction involved a tax-free stock swap valued at $536 million at a fixed ratio of 0.52 shares of Brooks to 1 share of PRI.
With combined fiscal year 2001 revenues of $650 million, Brooks-PRI claims to be 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, as well as giving us an entry into the area of automated material handling systems," said Robert J. Therrien, CEO of Brooks-PRI Automation.
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