Chelmsford, MA 9/26/18—Brooks Automation, which supplies automation and cryogenic solutions, has agreed to acquire GENEWIZ for $450 million in cash. GENEWIZ provides gene sequencing and synthesis services serving over four thousand customers. Brooks Automation expects GENEWIZ annual revenues of more than $140 million. The acquisition is estimated to be immediately accretive to Brooks Automation’s non-GAAP earnings.

“This is an exciting day for Brooks as we announce the pending acquisition of GENEWIZ, which will be our largest acquisition to date in Life Sciences,” stated Brooks Automation President and CEO Dr. Steve Schwartz. “This transaction is more than just an addition to our Life Sciences business as GENEWIZ will add a new and innovative platform which we expect to leverage, along with our core capabilities, to add even more value to samples under our care.” GENEWIZ Co-founder and CEO Dr. Amy Liao will remain as the head of the business. The transaction is expected to close by year end.

GENEWIZ’s revenues rose 31.9% last year, with non-GAAP gross margins of around 50%.  Thee company serves over 100,000 users with 1,100 employees at 14 sites.  Brooks Life Sciences, which is estimated to generate $198 million in fiscal 2018 revenues, specializes in biological sample management, including automated stores, and cold chain sample management and services. GENEWIZ increases the business’ more value-added services, according the company’s conference call regarding the acquisitions. The company noted that the combination of sample management and testing services is unique among GENEWIZ’s competitors. The company also cited geographical benefits, as Brooks Life Science is strong in Europe and GENEWIZ is strong in China.

The purchase is the latest in a series of acquisitions for Brooks Automation as it transitions to more high-growth markets, including life sciences, and away from its traditional cyclical semiconductor products. Last month, the company announced plans to sell its semiconductor cryogenics business for $675 million.