Brooks-PRI Automation Announces Acquisition of HERMOS Informatik GmbH
Improves Product Portfolio and Market Position with Leading Provider of RF Identification Systems for 300mm Wafer Market
CHELMSFORD, Mass., July 8 /PRNewswire-FirstCall/ -- Brooks-PRI Automation, Inc. (Nasdaq: BRKS - News), which delivers total automation for the semiconductor and related industries, today announced that it completed the acquisition of HERMOS Informatik GmbH based in Mistelgau, Germany from its parent, the HERMOS Group, on July 3, 2002. The purchase method of accounting will be used to account for the transaction which is valued at $41 million, based on $37 million in shares of stock and $4 million in cash.
"The acquisition of HERMOS Informatik now enables Brooks-PRI to directly offer RF identification systems for tracking material in a semiconductor fab," said Robert J. Therrien, president and CEO of Brooks-PRI Automation. "Virtually all new 300mm semiconductor fabs are transitioning to RF technology from the infrared ID systems used in 200mm fabs. Not only do we gain best-in- class technology that fills a white space in our product line, thus enhancing our ability to offer more integrated and complete solutions, but we also obtain a commercially profitable enterprise with the largest installed base and the most experience within its domain. We believe that this strategic acquisition will be a relatively seamless integration and it will have a modestly positive impact on our fiscal Q4 results."
"HERMOS Informatik, as the industry's leading provider of wafer carrier ID readers for the 300mm market, believes that there are tremendous benefits in teaming with Brooks-PRI, the market leader in 300mm load ports, and a current customer of HERMOS," said Harald Buchmann, Managing Director of HERMOS Informatik. "We believe that our technology, with important differentiators such as longer read distance, application-specific hand held readers, ability to integrate easily with the manufacturing execution system (MES) and adjustable read parameters all result in a strong competitive advantage for Brooks-PRI in the RF identification market segment. We have stayed focused on achieving strong gross margins and operating income throughout this industry down cycle, and will strive to continue making positive contributions to Brooks-PRI."
About HERMOS Group
HERMOS, with headquarters in Mistelgau, Germany, is a group of international companies involved in automation and information processing, of which HERMOS Informatik GmbH was a member company. HERMOS creates effective and efficient systems in automation of buildings, production and process technology, material handling technology, power and remote control engineering and environmental technology. For information, visit hermos.com.
About Brooks-PRI Automation, Inc.
Brooks-PRI (Nasdaq: BRKS - News) delivers total automation to the semiconductor and related industries. The company's hardware, software and services can manage every wafer, reticle and data movement in the fab, helping semiconductor manufacturers accelerate time-to-market while reducing their risk and increasing their operational efficiency. Brooks-PRI products can be found in virtually every fab in the world. For information, visit brooks-pri.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The foregoing discussion contains forward-looking statements related to future financial results and speaks only of the Company's expectations as of the date of this press release. The forward-looking statements involve several known and unknown risks and uncertainties including, without limitation, risks relating to the benefits of the acquisition of HERMOS Informatik GmbH by Brooks-PRI Automation, Inc. ("the Company"), the continued success of the Company in the marketplace, the Company's ability to capitalize on HERMOS Informatik GmbH's technology, the financial contribution of the acquired business, the ease of integrating HERMOS Informatik GmbH into the Company, the Company's dependence on the cyclical semiconductor industry, the highly competitive nature and rapid technological change that characterize the industries in which the Company competes, and other risks and uncertainties described in the Company's reports and registration statements filed with the Securities and Exchange Commission. As a result, there can be no assurance that the Company's future results will not be materially different from those projected. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.
Investor Contact: Media Contact:
Mark Chung Rachel G. Mann
Director of Investor Relations Account Executive
Brooks-PRI Automation, Inc. Gray & Rice Public Relations
P: (978) 262-2459 P: (617) 367-0100 ext. 114
mark.chung@brooks-pri.com rgmann@gr2000.com
SOURCE: Brooks-PRI Automation, Inc. |
