In a deal valued at $454 million, Brooks Automation Inc., a Chelmsford, Mass., provider of automation solutions to the semiconductor and related industries, has announced an agreement to acquire Helix Technology Corp., a provider of vacuum technology used in the manufacture of semiconductors, flat panel displays and data storage devices. Helix is based in Mansfield, Mass.
Edward C. Grady, president and chief executive officer (CEO) of Brooks Automation, said the acquisition is expected to be “significantly accretive” to Brooks earnings in the company’s fiscal year 2006. “In addition,” Grady said, “we believe we will be able to capture significant operating efficiencies that will position us to accelerate earnings growth and enhance our financial performance throughout business cycles, and thereby benefit all the stakeholders of the combined enterprise. By combining the market-leading products of Brooks and Helix, particularly in the vacuum product segment, we believe we will be significantly better positioned to deliver increased value as a major systems supplier to our customers, while continuing to build value for our stockholders and employees,” Grady added.
Grady will serve as president and CEO of the combined company, which will be known as Brooks Automation. James Gentilcore, president and CEO of Helix, will become president and chief operating officer (COO) of a newly created Semiconductor Products Group. Joseph M. Bellini, currently executive vice president and general manager of the Brooks Software Division, will become president and COO of a newly created Enterprise Software Group.
Under terms of the deal, Helix stockholders will receive 1.11 shares of Brooks common stock for each share of Helix common stock owned. The transaction is subject to an appropriate regulatory waiting period and stockholder approval at each company, and is expected to close in the fourth quarter of this year.