RTTNews | Sep 20, 2021 06:40AM EDT

06:39 Monday, September 20, 2021 (RTTNews.com) - Brooks Automation Inc. (BRKS) agreed to sell its Semiconductor Solutions Group business to Thomas H. Lee Partners, L.P. for $3.0 billion in cash.

Brooks anticipates closing of the transaction in the first half of calendar year 2022 upon satisfaction of customary closing conditions and regulatory approvals.

As a result of the pending sale, Brooks said it will no longer pursue a separation into two independent and publicly traded companies as announced in May 2021.

Following completion of the sale, expected in first half of 2022, the semiconductor automation business will transition to the ownership of THL along with the Brooks Automation name and brand. The remaining life sciences business will then operate as a standalone publicly traded life sciences company, under a new name to be announced in the near future.

Read the original article on RTTNews ( https://www.rttnews.com/3226764/brooks-automation-to-sell-semiconductor-business-to-thomas-h-lee-partners-for-3-0-bln.aspx)

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