Brooks Automation, the parent company of Jinwei Zhizhi, plans to split into two independent listed companies

On May 10, 2021, Brooks Automation, the parent company of Jinwei Zhizhi, announced its plan to split into two independent listed companies to establish a life science company and an automation company with a focus on business and rapid growth
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The transaction aims to distribute shares to Brooks shareholders in a tax-efficient manner.
After the split, it will be established:

• A dedicated life science company with market-leading sample-based solutions and genomics services
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  The company will be renamed before the split is completed to reflect its strategic focus
  
  

  Brooks Chairman of the Board of Directors Dave Jarzynka said: "The company split is the result of a comprehensive strategic review conducted by the board of directors and the management team
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  Create two independent companies, each with its own focus and mature business model, designed to promote these two The continued development of the business and the creation of value for shareholders
  
  

  Brooks' current CEO Steve Schwartz will lead the independent life science company
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  The current Brooks CFO Lindon Robertson will serve as CFO
  
  

  Dave Jarzynka, the current president of the Semiconductor Solutions Division, will be appointed as the CEO of the new Brooks Automation
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  Brooks' current company chief financial officer and chief accounting officer Dave Pietrantoni will be appointed chief financial officer
  
  

  Decision-making basis for split strategy

  The life sciences and semiconductor businesses operate in different industry markets and have unique business opportunities and investment requirements
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  The Brooks board of directors and management believe that the split will bring substantial benefits to the independent company, including:
  
  • Strengthen strategic and operational focus
  • Simplify organizational structure and increase flexibility
  • Unique and clear financial situation, with a convincing investment case
  • Consistent performance incentive mechanism
  • A high-quality balance sheet supports organic and inorganic investments

  Split the details

  The transaction plan will distribute shares to Brooks shareholders in a tax-efficient manner
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  Brooks' goal is to complete the split by the end of the 2021 calendar year