Robotics sector-related ETFs were among the best performers Tuesday after Swedish compressor and vacuum pump maker Atlas Copco (ATCO) made acquired Brooks Automation’s (NasdaqGS: BRKS) cryogenics business.
On Tuesday, the Global X Robotics & Artificial Intelligence Thematic ETF (NasdaqGM: BOTZ) increased 1.1%, ROBO Global Robotics & Automation Index ETF (NYSEArca: ROBO) advanced 1.1%, First Trust Nasdaq Artificial Intelligence and Robotics ETF (NasdaqGM: ROBT) gained 1.0% and iShares Robotics and Artificial Intelligence ETF (NYSEArca: IRBO) added 0.5%.
Atlas Copco has acquired Brooks’ cryogenic business in a $675 million cash deal to expand its vacuum technology portfolio, Reuters reports.
BRKS shares surged 29.1% in response to the deal. BRKS makes up 2.5% of BOTZ’s underlying portfolio, 1.9% of ROBO and 0.6% of ROBT.
Inside the Acquisition Deal
The acquisition also includes Brooks Automation’s 50% stake in Ulvac Cryogenics, a joint venture with total sales of around $100 million for the fiscal year ended June.
“The acquisition of Brooks Automation’s cryogenic business gives us access to new technologies and products and complements our current offering for semiconductor chamber solutions,” Atlas Copco Vacuum Technique head Geert Follens said in a statement.