Brooks-PRI plans to buy Berkeley Process Control
Chelmsford, MA— Brooks-PRI Automation Inc. announced Sept. 19 that it has agreed to acquire privately held Berkeley Process Control Inc. (Richmond, CA) for 614,374 shares of Brooks' stock, or slightly more than $7 million given its $11.43 per share value on Sept. 24.
However, the value of these shares is subject to adjustment depending on Berkeley's performance in 4Q02. Brooks reports this purchase is expected to close by the end of 2002 and be accretive to it in the first quarter after closing.
Brooks provides automation solutions for the semiconductor industry. Berkley specializes in motion and machine control technologies.
'The multiple learning cycles that Berkeley Process Control has gained in its 21-year history will be invaluable to Brooks-PRI,' says Chuck McKenna, Brooks' Equipment Automation Group executive vp. 'Its innovative 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.'
Paul Sagues, Berkeley's president, adds that, 'In an industry where time-to-market is everything, our customers really value Berkeley's technology. Our control products let customers incorporate improvements in machine control more efficiently which in turn leads to faster installation of machines, thereby delivering semiconductor equipment to market faster and at reduced cost. For example, our patented Autocalibration technology allows a robot to precisely locate system objects without the need for operator assistance, reducing the time-consuming calibration process from hours or even days to just a few minutes.'
Control Engineering Daily News Desk
Jim Montague, news editor