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Sept. 20, 2021, 6:46 a.m. EDT

Brooks Automation to sell chip solutions business for $3 billion, scraps plan to split up

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By Tomi Kilgore

Brooks Automation Inc. announced Monday a deal to sell its Semiconductor Solutions Group business for $3.0 billion in cash to Thomas H. Lee Partners L.P. Brooks' automation business recorded revenue of $613 million in revenue in the last 12 months through June 30, which compares with total revenue of about $1.1 billion over the same time, according to FactSet data. Brooks expects the deal to close in the first half of 2022. As a result of the deal, Brooks said it will no longer pursue its previously announced plans to split into two separate publicly traded companies, one a life-sciences company and the other an automation-technology company. Brooks' stock slipped 0.2% in premarket trading Monday, but outperformed its chip-sector peers and the broader stock market, as the VanEck Semiconductor ETF /zigman2/quotes/200571902/composite SMH +1.11% dropped 1.3% and futures /zigman2/quotes/209948968/delayed ES00 +0.83% for the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.93% slid 1.3%.

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