CHELMSFORD, Mass., Dec. 01, 2015 (GLOBE NEWSWIRE) -- Brooks Automation, Inc. (Nasdaq:BRKS), a leading worldwide provider of automated and cryogenic solutions for multiple markets including semiconductor manufacturing and life sciences, announced today that it has closed its previously announced acquisition of BioStorage Technologies, Inc.
BioStorage, headquartered in Indianapolis, Indiana, is an industry leader in the storage of biological samples for multiple end markets, including pharmaceutical, biotech, clinical, healthcare, academic and government. BioStorage provides comprehensive outsource service solutions across the complete life cycle of biological samples including collection, transportation, processing, protection, retrieval and disposal, and complements this offering with a powerful sample data management system. BioStorage’s revenue for the trailing twelve months was approximately $40 million and future revenue growth is expected based on current backlog and the pipeline for new customers. Earnings are expected to be accretive on a non-GAAP basis within the first half of Brooks' fiscal 2016.
Evercore acted as financial advisor and Mintz, Levin, Cohn, Ferris, Glovesky and Popeo acted as legal counsel to Brooks Automation in connection with the transaction.
About Brooks Automation, Inc.
Brooks is a leading worldwide provider of automation and cryogenic solutions for multiple markets including semiconductor manufacturing and life sciences. Brooks’ technologies, engineering competencies and global service capabilities provide customers speed to market and ensure high uptime and rapid response, which equate to superior value in their mission-critical controlled environments. Since 1978, Brooks has been a leading partner to the global semiconductor manufacturing market and, through product development initiatives and strategic business acquisitions, has expanded offerings to meet the needs of customers in the life sciences industry, analytical & research markets and clean energy solutions. Brooks is headquartered in Chelmsford, MA, with direct operations in North America, Europe and Asia. For more information, visit www.brooks.com.
“Safe Harbor Statement” under Section 21E of the Securities Exchange Act of 1934
Some statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Brooks' financial and business results to differ materially from our expectations. They are based on the facts known to management at the time they are made. These forward-looking statements include, but are not limited to statements about the anticipated benefits of the acquisition of BioStorage Technologies, and the expected future capabilities of the combined companies. Factors that could cause results to differ from our expectations include the following: unexpected costs, charges or expenses resulting from the transaction; and potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transaction. In addition, actual results are subject to other risks that relate more broadly to Brooks’ overall business, including those that we have described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K, current reports on Form 8-K and our quarterly reports on Form 10-Q. As a result we can provide no assurance that our future results will not be materially different from those projected. Brooks expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based. Brooks undertakes no obligation to update the information contained in this press release.
Senior Managing Director
Source:Brooks Automation, Inc.