Brooks Automation Inc. (BRKS) announced that it has entered into a definitive agreement to acquire Crossing Automation Inc. The cash purchase price is $63 million, subject to adjustment for actual working capital at closing.
The company expects to complete the acquisition by the end of this month upon satisfaction of customary closing conditions.
For the trailing twelve months ended September 30, 2012, Crossing had revenues of approximately $51 million, which generated operating profits of approximately $3 million with gross margins of approximately 41%.
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