Brooks Automation Acquires Intelligent Automation Systems

CHELMSFORD, Mass., Feb. 21 -- Brooks Automation Inc., supplier of tool and factory hardware and software automation solutions for the global semiconductor and related industries, said it has completed the acquisition of Intelligent Automation Systems Inc. of Cambridge, Mass., a 14-year-old custom automation company with technology and products for the semiconductor, photonics and life sciences industries. The purchase method of accounting will be used to account for the approximately $17.9 million transaction, payable in a combination of stock and cash, according to Brooks.

The revenue for Intelligent Automation Systems corresponding to the last fiscal year of Brooks was $7.92 million. The transaction is expected to be neutral to Brooks' earnings, before amortization of acquired intangible assets, acquisition-related and restructuring charges and other charges for fiscal year 2002, the company said.