Brooks Automation To Acquire GENEWIZ Group - Quick Facts

(RTTNews) - Brooks Automation, Inc. (BRKS) announced a definitive agreement to acquire GENEWIZ Group, a global genomics service provider headquartered in South Plainfield, New Jersey. The total cash purchase price for the acquisition will be approximately $450 million.

Brooks Automation expects GENEWIZ to exceed $140 million in revenue in the next twelve months, and expects the acquisition will immediately be accretive to non-GAAP earnings. The company will fund the acquisition from cash on the balance sheet supplemented with incremental debt.

GENEWIZ provides genomics services that enable research scientists to advance their discoveries within the pharmaceutical, academic, biotechnology, agriculture and other markets. The company provides gene sequencing and synthesis services for more than 4,000 institutional customers worldwide. Amy Liao is a co-founder and the Chief Executive Officer of GENEWIZ.