Pandemic Demand for Lab Automation Serves as Springboard for Precise to Achieve an Exit
Precise Automation, a well-known provider of cobots for the pharmaceutical industry, has been acquired by larger automation provider Brooks Automation for US$70 million. Precise has been built by the same team that kickstarted commercial robotics with Unimate, and then went on to pioneer mobile robotics with Adept Motion Technology (both companies were in the end sold to larger automation vendors).
Precise has benefitted greatly from the increased demand for lab automation in the wake of COVID-19. The company saw sales outstrip manufacturing capacity for its systems, with talk of demand growth exceeding 300% for 2020. Precise Automation achieved revenues of US$17 million in 2020.
Brooks Automation, a life sciences and semiconductor automation vendor, reported increased revenues of US$897 million in 2020, up from US$781 million in 2019. The addition of Precise will be a major boost to not only cement Brooks’s place in the lab automation space, but could open new opportunities in manufacturing and industrial applications.…
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