Brooks to acquire Precise Automation
Brooks Automation has entered a definitive agreement to acquire Precise Automation, Inc., a developer of collaborative robots and automation subsytems headquartered in Fremont, California.
The total cash purchase price for the acquisition will be approximately USD 70 million, subject to working capital and other adjustments. The transaction is expected to close by the end of April. Precise Automation's proprietary technology enables human-robot workflows in a safe and easy-to-use manner. The company's collaborative robots, which include SCARA, 6-axis and Cartesian configurations, are delivered fully assembled and designed for easy system integration by end users and OEM customers. The compay'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. Their history of innovation in vision technology, precision motion, integrated controllers and direct drive motors and track record of solving customer challenges in laboratory and semiconductor automation makes Precise a great fit with Brooks," says Steve Schwartz, President and CEO of Brooks in a press release. Co-founders Brian Carlisle and Dr. Bruce Shimano, will join Brooks and continue to lead Precise Automation reporting to Dave Jarzynka, President of the Brooks Semiconductor Solutions Group. Precise Automation generated USD 17 million in revenue over the last twelve months.