Brooks Automation's Divests Semiconductor Business To PE Firm For $3B

Author: Anusuya Lahiri | September 20, 2021 07:31am

• Private equity firm Thomas H. Lee Partners, L.P. has agreed to acquire Brooks Automation Inc's (NASDAQ:BRKS) Semiconductor Solutions Group business in a transaction valued at $3 billion. The transaction is likely to close in the first half of CY22.
• The automation business, which will retain the Brooks Automation name, reported $613 million in revenue in the last twelve months ended June 30.
• Brooks separated its business into a highly innovative automation technology company and a pure-play life sciences company. 
• The era of 5G, Industrial Internet of Things, autonomous vehicles, and artificial intelligence is likely to drive semiconductor industry revenue to $1 trillion by 2030, up from $450 billion today. As a result, semiconductor manufacturers are investing heavily in new automation and robotics equipment to maximize production capacity.
• Price Action: BRKS shares traded higher by 3.03% at $96.99 in the premarket session on the last check Monday.

Posted In: BRKS