Brooks Automation Inc. BRKS, +9.86% announced Monday a deal to sell its Semiconductor Solutions Group business for $3.0 billion in cash to Thomas H. Lee Partners L.P. Brooks’ automation business recorded revenue of $613 million in revenue in the last 12 months through June 30, which compares with total revenue of about $1.1 billion over the same time, according to FactSet data. Brooks expects the deal to close in the first half of 2022. As a result of the deal, Brooks said it will no longer pursue its previously announced plans to split into two separate publicly traded companies, one a life-sciences company and the other an automation-technology company. Brooks’ stock slipped 0.2% in premarket trading Monday, but outperformed its chip-sector peers and the broader stock market, as the VanEck Semiconductor ETF SMH, -2.60% dropped 1.3% and futures ES00, -1.63% for the S&P 500 SPX, -1.74% slid 1.3%.
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