BRKS - Brooks Automation to acquire Precise Automation for $70M

Brooks Automation (BRKS) trades 3% higher premarket after entering a definitive agreement to acquire Precise Automation, developer of collaborative robots and automation subsytems, for total cash purchase price of ~$70M.Transaction expected to close by April end and is expected to be immediately accretive to earnings.Precise Automation's proprietary technology enables human-robot workflows in a safe and easy-to-use manner, automating processes that could not be addressed practically in the past.Precise Automation's products are used in a variety of end markets including laboratory automation and semiconductor and electronics manufacturing."Precise provides Brooks with a product offering and technology portfolio that is well positioned to take advantage of the exciting growth opportunities in the collaborative robot market," president & CEO Steve Schwartz commented.Over the past one year, Precise generated $17M in revenues.Co-founders Brian Carlisle and Dr. Bruce Shimano, two industry visionaries with 35+ years each of robotics experience, will join Brooks and continue to lead Precise Automation reporting to Dave Jarzynka,

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Brooks Automation to acquire Precise Automation for $70M