Brooks Automation sells chip solutions company for $3 billion, scraps plan to split

Brooks Automation Inc. BRKS,
announced a deal Monday to sell its Semiconductor Solutions Group business for $3.0 billion in cash to Thomas H. Lee Partners. $1.1 billion in the same amount of time, according to data from FactSet. Brooks expects the deal to close in the first half of 2022. As a result of the deal, Brooks said it has previously announced plans to split into two separate publicly traded companies, one a life sciences company and the other an automation technology company. Brooks shares fell 0.2% in Monday’s premarket trading, but outperformed its competitors in the chip sector and the broader stock market, such as the VanEck Semiconductor ETF SMH,
fell 1.3% and futures ES00,
for the S&P 500 SPX,
slipped 1.3%.