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Brooks Buys Irvine Optical:

May 06, 2000|Bloomberg News

Brooks Automation Inc., a maker of factory automation systems, said it has acquired Burbank-based Irvine Optical Co., the largest maker of sorters used in semiconductor manufacturing. Under terms of the deal, shareholders of closely held Irvine Optical will receive 310,000 Brooks shares, worth about $25.9 million based on Thursday's closing price of $83.63. Brooks also said it assumed $7.1 million in debt. The purchase is expected to add to earnings immediately, Chelmsford, Mass.-based Brooks said. Brooks shares rose 91 cents to close at $84.53 on Nasdaq.

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