Month: August 2018

Brooks sells CTI Cryogenics to Edwards Vacuum LLC

CHELMSFORD, Mass., Aug. 27, 2018 /PRNewswire/ — Brooks Automation, Inc. (Nasdaq: BRKS) today announced that it has entered into a definitive agreement to sell its semiconductor cryogenics business to Edwards Vacuum LLC (a member of the Atlas Copco Group) for $675 million in cash. The semiconductor cryogenics business, consisting of the CTI and Polycold product lines and related services, provides a wide range of high performance cryogenic products for the semiconductor, display, and general vacuum industries. The semiconductor cryogenics business generated approximately $195 million in revenue in the last twelve months. The purchase price is subject to adjustments for working capital and other items and Brooks anticipates closing of the transaction in the first quarter of calendar year 2019 upon satisfaction of customary closing conditions and regulatory approvals.

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