Brooks Automation Announces Purchase of Nexus Biosystems, Inc.
* Reuters is not responsible for the content in this press release.
CHELMSFORD, Mass., July 25, 2011 (GLOBE NEWSWIRE) -- Brooks Automation, Inc.
(Nasdaq:BRKS) announced today that it had completed the acquisition of Nexus
Biosystems, Inc. ("Nexus") the Poway, California based global market leader in
automated compound and sample management solutions for life sciences. The net
cash purchase price was $79 million. Additionally, the Company paid
approximately $6.7 million for the value of the unrestricted cash held by Nexus
at closing. For the trailing twelve months ended June 30, 2011, Nexus generated
revenues of $36 million.
Dr. Steve Schwartz, President & CEO of Brooks, stated, "Nexus represents an
important next step in our strategy to build a meaningful position in a rapid,
secular growth market. Together with our other recent acquisition, RTS Life
Sciences, and our core technical competencies at Brooks, we plan to build Brooks
Life Science Systems into the market and innovation leader in Biobanking and
Compound Sample Management. With Nexus' operations on the West Coast and
meaningful sales and service locations in Switzerland, Japan and Germany
complementing our existing Life Science Systems direct channel presence on the
East Coast and in the UK we will have broad global reach."
"Nexus has developed a proven technology position in their systems, consumables
and service offerings. Combined with RTS they will have developed the leading
installed base of Automated Biobanks and Compound Sample Management Systems
placed in service over the past decade," continued Dr. Schwartz.
John Lillig, CEO of Nexus Biosystems, commented, "We are very excited about
joining the Brooks team and we are also very much looking forward to joining
with our sample management colleagues from RTS. Both Brooks and Nexus have been
strong technology innovators. Combining the technological and global support
strengths of our two companies will help to accelerate the ongoing product
development, commercialization and customer support of our expanding sample
management solutions."
Martin S. Headley, Executive Vice-President and Chief Financial Officer
observed, "Nexus has attractive financial attributes including a gross margin
profile that is favorable to the Brooks average and modest fixed asset and
working capital requirements. We will be making meaningful development
expenditures in next generation automated sample management products over the
next twelve to fifteen months that will moderate operate margins from the
attractive levels we expect to see thereafter."
About Brooks Automation, Inc.
Brooks is a leading worldwide provider of automation, vacuum and instrumentation
solutions to markets where our technologies provide superior value in controlled
environments; our engineering competencies provide our customers with speed to
market; and our global service capabilities ensure rapid uptime response.
Global semiconductor manufacturing is our heritage and the largest market we
currently serve. However, through our product initiatives and business
acquisitions, we are increasingly meeting the needs of customers across a broad
spectrum of applications in life sciences, analytical & research markets, and
clean energy solutions. For more information go to 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
statements regarding our revenue and operating margin expectations, our ability
to develop further our business in new and adjacent markets, and our ability to
achieve financial success in the future. Factors that could cause results to
differ from our expectations include the following: volatility of the industries
the Company serves, particularly the semiconductor industry; our possible
inability to meet demand for our products due to difficulties in obtaining
components and materials from our suppliers - particularly those manufacturing
in Japan - in required quantities and of required quality; the inability of
customers to make payments to us when due; the timing and effectiveness of cost
reduction and cost control measures; price competition; disputes concerning
intellectual property; continuing uncertainties in global political and economic
conditions, and other factors and other risks 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.
CONTACT: Barbara Culhane
Corporate Marketing Manager
Brooks Automation, Inc.
978-262-2400
www.brooks.com
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.


Follow Reuters