CHELMSFORD, Mass., Oct. 1, 2014 (GLOBE NEWSWIRE) -- Brooks Automation, Inc. (Nasdaq:BRKS) announced today that it has acquired FluidX Ltd. FluidX, headquartered near Manchester, England, is a provider of biological sample storage tubes and complementary bench-top instruments. The company was acquired for a cash payment equal to approximately $16 million.
"FluidX is an important building block for Brooks Life Science Systems, bringing state of the art biological sample storage consumables into our portfolio. Our existing consumables primarily address compound samples, and this acquisition brings us the latest designs in biological sample consumables," stated Steve Schwartz, CEO of Brooks. "Today we have extended our reach and leadership in the value chain advancing the integrity of our customers' samples."
Dr. Schwartz continued, "We have known FluidX as an innovative provider of consumables for bio sample storage since we entered this space in 2011 and are pleased to have them as part of our team. Their offerings can be found inside many of the bio-stores around the world and provide Brooks with the opportunity to offer a complete bio-store solution."
Welcoming the acquisition, Robert Moore, Director of FluidX, said, "Brooks is well known as the leading provider of automated storage systems globally and as the innovator in the industry. This combination positions Brooks and FluidX to maximize the opportunities for our sample storage consumables, 2D readers, and capping and sealing instruments. It is a great step for us in keeping innovation as a priority while enabling enhanced growth of our offerings."
Lindon Robertson, Chief Financial Officer of Brooks, commented, "This transaction is another strategic step in the expansion of our life sciences business, supporting our path for continued growth and margin expansion. FluidX achieved approximately $10 million in sales in calendar year 2013 and we see broad opportunity for growth in this line of solutions. The transaction is expected to be accretive in fiscal 2015 on a non-GAAP basis and supports our current gross margin expectations in life sciences."
About Brooks Automation, Inc.
Brooks is a leading worldwide provider of automation and cryogenic solutions for multiple markets including semiconductor manufacturing and life sciences. Our 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, we have been a leading partner to the global semiconductor manufacturing market and through product development initiatives and strategic business acquisitions, we have expanded our reach 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, please 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 statements regarding the expected timing and benefits of the acquisition of FluidX, 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 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.