Brooks Acquires Laboratory Software Firm RURO Inc.
CHELMSFORD, Mass., Feb. 11, 2020 /PRNewswire/ -- Brooks Automation, Inc. (Nasdaq: BRKS) announced today that it has acquired RURO, Inc., an informatics software company based in Frederick, Maryland. The total cash purchase price of the acquisition was $15 million, subject to customary working capital and other adjustments.
RURO provides cloud-based software solutions to manage laboratory workflow and bio-sample data for a broad range of customers in the biotech, healthcare, and pharmaceutical sectors. Its customers include such names as MD Anderson, Amgen, Exact Sciences, and the NIH. The addition of RURO's capabilities and offerings will enable Brooks to offer enhanced onsite and off-site management of biological sample inventories as well as integration solutions to its customers for their increasingly distributed workflow.
Steve Schwartz, president and CEO commented, "In managing more than 50 million samples on behalf of our customers, we have long been in a position to offer information management solutions to many of our customers. We have worked with RURO in recent years and found their solutions are very effective at resolving the challenges of integrating multi-laboratory workflows, managing distributed inventories, and providing information security in a single solution. We are in an ideal position to offer and implement these comprehensive software solutions with increased value for our customers."
The Company closed the acquisition earlier today and has aligned the RURO management under the Brooks Life Sciences business in its Sample Management operations. In the twelve months ended December 31, 2019, RURO generated approximately $5 million in revenue. The Company expects the acquisition will be accretive to non-GAAP earnings within the first year.
About Brooks Automation
Brooks is a leading provider of life science and semiconductor manufacturing automation solutions worldwide. The Company applies its automation and cryogenics expertise to provide a full suite of reliable cold-chain sample management solutions across life sciences in areas such as drug development, clinical research and advanced cell therapies. Brooks recently added global capability for gene sequencing and gene synthesis services through its strategic acquisition of GENEWIZ, expanding its sample-based services offerings. With over 40 years as a partner to the semiconductor manufacturing industry, Brooks is a provider of industry-leading precision robotics, integrated automation systems and services. Brooks is headquartered in Chelmsford, MA, with operations in North America, Europe and Asia. For more information, visit www.brooks.com.
About RURO, Inc.
RURO, Inc. was founded in 2006 and is headquartered in the heart of Maryland's biotechnology corridor. RURO develops state of the art computer software for research, biotechnological, pharmaceutical, healthcare and government (homeland security) laboratories in the US and worldwide. RURO is a web applications leader, combining world-class innovation and industry experience so individuals can use computer software in new ways and places. Their recent line of biological applications is designed to increase the productivity of scientific, biotech and pharmaceutical laboratories while maintaining the highest level of security, versatility and knowledge.
"Safe Harbor Statement" under Section 21E of the Securities Exchange Act of 1934
Some statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Brooks' financial and business results to differ materially from our expectations. They are based on the facts known to management at the time they are made. These forward-looking statements include but are not limited to statements about the anticipated benefits of the acquisition of RURO, Inc. and the expected future capabilities of the combined companies. Factors that could cause results to differ from our expectations include the following: potential difficulties with the integration of the RURO, Inc. business into Brooks Life Sciences and potential adverse reactions or changes to business relationships resulting from Brooks' ownership of the RURO, Inc. business. In addition, actual results are subject to other risks that relate more broadly to Brooks' overall business, including those that we have described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K, current reports on Form 8-K and our quarterly reports on Form 10-Q. As a result, we can provide no assurance that our future results will not be materially different from those projected. Brooks expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based. Brooks undertakes no obligation to update the information contained in this press release.
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SOURCE Brooks Automation