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 ...
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 have already approved the 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.
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. The combined company will be headquartered in Chelmsford.
