Keywords
Citation
(2002), "Brooks automation completes the acquisition of PRI Automation Shareholders give approval of the acquisition which makes Brooks-PRI the single largest automation supplier to the semiconductor industry", Assembly Automation, Vol. 22 No. 4. https://doi.org/10.1108/aa.2002.03322dab.002
Publisher
:Emerald Group Publishing Limited
Copyright © 2002, MCB UP Limited
Brooks automation completes the acquisition of PRI Automation Shareholders give approval of the acquisition which makes Brooks-PRI the single largest automation supplier to the semiconductor industry
Brooks automation completes the acquisition of PRI Automation Shareholders give approval of the acquisition which makes Brooks-PRI the single largest automation supplier to the semiconductor industry
Keywords: Semiconductor
Brooks Automation, Inc., which delivers total automation for the semiconductor and related industries, has announced that it completed the acquisition of PRI Automation, a leading supplier of automation systems and software for the semiconductor industry, on 14 May, 2002. The new company’s 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 fiscal year 2001 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 leadership 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 J. 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 uniquely 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 strongly feel that the automation market growth forecasted over the next 4 years and our product positioning in this market represents a major opportunity for Brooks-PRI and its shareholders”.
About Brooks-PRI Automation, Inc.
Brooks-PRI delivers total automation to the semiconductor and related industries. The company’s hardware, software and services can manage every wafer, reticle and data movement in the fab, helping semiconductor manufacturers accelerate time-to-market while reducing their risk and increasing their operational efficiency. Brooks-PRI products can be found in virtually every fab in the world.
For further information contact: Mark Chung, Director of Investor Relations, Brooks-PRI Automation. Tel: +1 (978) 262-2459; Fax: +1 (978) 262-7606; E-mail: mark.chung@brooks.com; Web site: http://www.brooks-pri.com