Brooks Automation to Buy Helix

The deal is valued at $454 million.
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Brooks Automation

(BRKS) - Get Report

, a provider of hardware and software automation products to the semiconductor industry, signed a deal to buy

Helix Technology

(HELX)

for $454 million.

The merger will create a company with trailing annual revenue totaling more than $720 million.

Separately, Brooks cut its forecast for the third quarter, citing delays of certain customer projects. The company expects to report revenue of about $111 million to $113 million, compared with its prior guidance of $115 million to $120 million for the quarter.

Helix stockholders will receive 1.11 shares of Brooks for each Helix share. Brooks stockholders will own 61% of the combined company, and Helix holders will own the rest. Brooks said the purchase will add "significantly" to its earnings within the first year.

The combined company will be based in Chelmsford, Mass., where Brooks is located. Helix, which has headquarters in Mansfield, Mass., provides components and subsystems used in making semiconductors, flat-panel displays and data-storage devices.

Shares of Brooks were dropping $1.05, or 7%, to $14.54, while Helix shares were gaining $2.04, or 15%, to $15.93.