Brooks Automation acquires Helix Technology in $454 million deal

Manufacturing News, Source : TheManufacturer.com
Published : 11 Jul 2005 21:06

Brooks Automation, a provider of hardware and software automation solutions to the semiconductor industry, and Helix Technology, a solutions provider in the field of vacuum technology, today announced that they have signed an agreement under which Brooks will acquire Helix.

The transaction values Helix at $454 million. The combination of Brooks and Helix will create a leading provider of integrated subsystem solutions to the semiconductor capital equipment industry, with annual revenues totaling more than $720 million.

Edward C. Grady, president and chief executive officer of Brooks, will be president and chief executive officer of the combined company, which will be known as Brooks Automation. James Gentilcore, currently Helix’s president and chief executive officer, will be president and chief operating officer of a newly created Semiconductor Products Group, and Joseph M. Bellini, currently executive vice president and general manager of the Brooks Software Division, will be president and chief operating officer of a newly created Enterprise Software Group.

“We expect this transaction to be significantly accretive to Brooks' earnings in our fiscal year 2006,” said Edward C. Grady, president and chief executive officer of Brooks Automation. “As semiconductor capital equipment manufacturers increasingly outsource their systems, we have strengthened our leadership position in what we believe is the fastest-growing segment within tool automation, the vacuum modules and systems business. In addition, the strong global service and support capabilities of the Helix organization will substantially increase Brooks' abilities in that area.”

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