June 29, 2001 — CHELMSFORD, MA — Brooks Automation is planning to acquire Tewksbury, Mass.-based Progressive Technologies, Inc. Under the deal, PTI will become a business unit within Brooks’ Factory Interface Division.
The two companies have signed a purchase and sale agreement. Officials say they expect the deal to close by the middle of July. The deal is valued at $31.5 million.
PTI specializes in the design and development of precision airflow and pressure control solutions, while Brooks is a supplier of OEM tool automation and factory management for the semiconductor, data storage and flat panel display manufacturing industries.
“The PTI acquisition is an important part of Brooks Automation’s strategy for the factory interface market segment,” said Robert J. Therrien, president and CEO of Brooks. “When combined with our strong mini-environment technology and capability, Brooks should be able to deliver mini-environment solutions with higher performance at a lower cost than the competition.”
Therrien said the acquisition will also allow Brooks to gain a better foothold in the track, furnace, lithography and wet-bench segments for expanding the company’s scope of supply to include tool controls, load ports and robotics.