Brooks Automation buying Helix Technology for $454 million

Chemsford, Mansfield, MA—Brooks Automation Inc. and Helix Technology Corp. report they’ve agreed to have Brooks acquire Helix for approximately $454 million.


Chemsford, Mansfield, MA— Brooks Automation Inc. and Helix Technology Corp. report they’ve agreed to have Brooks acquire Helix for approximately $454 million. The two companies say merging will create a leading provider of integrated subsystem solutions to the semiconductor capital equipment industry, and that the combined organization will have more than $720 million in trailing annual revenues. Brooks provides hardware and software automation solutions to the global semiconductor industry. Helix develops and applies vacuum technology solutions

The firms add their boards of directors has already approved their acquisition agreement, which calls for Helix’s stockholders to receive 1.11 shares of Brooks common stock for each share of Helix common stock. Based on the closing price of Brooks common stock on July 8, 2005, the transaction values Helix at $454 million. Brooks stockholders will own 61% and Helix stockholders will own 39% of the combined company on a fully diluted basis. The transaction is expected to be significantly accretive to Brooks' earnings within the first year, and be tax-free to the stockholders of both companies for U.S. federal income tax purposes.

Edward Grady, Brooks’ president and CEO, will be president and CEO of the combined company, which will continue to be known as Brooks Automation. James Gentilcore, Helix’s president and CEO, will be president and COO of the combined firm’s new semiconductor products group. Joseph Bellini, executive VP and GM of Brooks’ software division, will be president and COO of a new enterprise software group.

The combined company's board of directors will include 10 members, including the seven current members of Brooks’ board and three additional members from Helix's current board. In addition, one non-voting emeritus director will be selected by Helix. The combined company will be headquartered in Chelmsford.

Control Engineering Daily News Desk
Jim Montague, news editor

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