Recently, Brooks Automation, Inc. announced the acquisition of GENEWIZ, the world's leading provider of genomic services. The total purchase price of the purchase will be approximately $450 million, requiring working capital and other adjustments. The transaction is expected to be completed by the end of the year after meeting customary closing conditions and regulatory approvals.
Brooks Automation is a global automation solutions provider with a life sciences division providing superior software and hardware products and services related to biological sample preservation, providing customers with a complete solution for biological sample preservation. Headquartered in New Jersey, USA, GENEWIZ is a global genomics service provider. With laboratories in the United States, China, the United Kingdom, Germany and Japan, the company is trusted by scientific and industrial users with leading-edge technology, innovative genomics solutions and superior customer support.
Commenting on the transaction, Steve Schwartz, President and CEO of Brooks Automation said, “This is an exciting day for Brooks, as we announce the upcoming acquisition of GENEWIZ, which will be our largest acquisition in life sciences to date. The GENEWIZ team has built a strong business, providing industry-leading scientific capabilities and quality services. This transaction is not only a complement to our life sciences business, as GENEWIZ will add an innovation platform that we expect to leverage to enhance our core competencies and add more value to our sample.”
Dr. Amy Liao is the co-founder and CEO of GENEWIZ and will continue to lead Brooks' future business. Dr. Liao commented: "We have 20 years experience, leading sequencing and comprehensive capabilities, deep customer relationships, and more than 1,000 very excited employees entering Brooks.Brooks' strength in the sample management market will open the door for more customers, and we look forward to working together as part of the Brooks team to develop this exciting new chapter. ”
The management expects GENEWIZ to earn more than $140 million over the next 12 months. Brooks will fund the acquisition through supplemental incremental debt.
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