(RTTNews) – Brooks Automation, Inc. (BRKS) has entered a definitive agreement to acquire Precise Automation, Inc., a developer of collaborative robots and automation subsytems headquartered in Fremont, CA. The total cash purchase price for the deal will be approximately $70 million. Co-founders Brian Carlisle and Bruce Shimano will join Brooks and continue to lead Precise Automation.
Precise Automation’s technology enables human-robot workflows in a safe and easy-to-use manner, automating processes that could not be addressed practically in the past. Precise Automation generated $17 million in revenue over the last twelve months. Brooks Automation expects the acquisition to be immediately accretive to earnings.