Brooks Automation agrees to sell chip manufacturing business for $3B
Thomas H. Lee Partners agreed to buy the semiconductor manufacturing automation business of Brooks Automation (Nasdaq: BRKS) for $3 billion.
Why it matters: This is a structural shift for Chelmsford, Mass.-based Brooks, which previously said it would split its chip manufacturing unit from its life sciences unit, with each to operate as independent public companies.
The bottom line: "Its life sciences segment caters to clients in the pharmaceutical, biotech and healthcare industries globally, while the automation business provides robotics and other automated solutions to chipmakers and equipment manufacturers." — Reuters