Dover Corporation Acquires Datamax Corporation
Resource from: www.dover.com Likes:2947
Jan 07,2005
NEW YORK, December 23 – Dover Corporation (NYSE: DOV) announced today that its
Dover Technologies subsidiary has completed the acquisition of Datamax Corporation headquartered in Orlando, Florida.
Datamax is a worldwide supplier of barcode and RFID printing solutions, and features one of the most diverse lines of thermal printers in the barcode industry. Datamax products are marketed in more than 65 countries worldwide. Terms of the transaction were not disclosed.
The acquisition follows the strategic business realignment recently announced where Dover will expand its subsidiary structure from four to six market segments, and concurrently
realign its 49 operating businesses into 13 more focused business groupings.
Within Dover Technologies, the new Product Identification and Printing Group has been created, today consisting of Imaje, a world leader in industrial inkjet and thermal marking,Mark Andy, a leading manufacturer of narrow web printing equipment, and now also Datamax.
The President of Datamax, William Bouverie comments; “Being a part of Dover, Datamax will be able to make further investments into growth areas such as RFID, as well as further strengthen our presence in the worldwide barcode printer market. I look forward to playing a
key role in this development”.
Imaje President Omar Kerbage, who will have oversight responsibility for Datamax, states that “ All companies within the Product Identification and Printing Group will continue to be run as individual companies targeting optimal performance based on the varied product and distribution needs of their respective business areas. Synergies will be found at the industry level, where our joint resources will help drive our participation in the Automatic Identification
(AutoID) market forward. It is our intention to further strengthen the Dover’s position in this important growth area”.
Dover is a diversified industrial manufacturer with over $5 billion in annualized revenues from operating companies that manufacture specialized industrial products and equipment.
Statements in this release may be “forward-looking”, which involves risks and uncertainties.
These include economic and currency conditions, market demand, pricing, and competitive and technological factors, among others, as set forward in the company’s SEC filings.
(www.dover.com)
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