Acquisition expands global reach & scale of Systech's
Brand Protection Suite™
PRINCETON, New Jersey,
Jan. 7, 2020 /PRNewswire/
-- Systech International ("Systech") announced today that it
has entered into a definitive agreement to be acquired by Dover
Corporation ("Dover"). Dover is a diversified global manufacturer
that delivers innovative equipment and components, specialty
systems, consumable supplies, software and digital solutions, and
support services. Following the close of the transaction, Systech
will become part of Dover's Markem-Imaje business unit, a global
supplier of product identification and traceability solutions, in
Dover's Imaging and Identification segment.
Systech is headquartered in Princeton,
New Jersey, and is recognized as a pioneer in protecting
pharmaceutical and consumer brands across the global supply chain.
Systech provides digital brand protection solutions for 19 of
the top 20 global pharmaceutical manufacturers and is expanding
with its innovative and proven solutions in adjacent verticals such
as personal care, cosmetics, wine & spirits and medical
devices. Whereas most current solutions are analogue and additive,
Systech empowers brand owners to digitize their brand protection
solutions through non-additive means and indubitably protect
against the growing global threat of counterfeiting.
"Integration with Markem-Imaje will boost Systech's R&D
capabilities and support our ambitious technological innovation
agenda. The acquisition will also enhance implementation scale,
accelerate innovation and help to better serve both our global
client base and our partners," said Ara
Ohanian, Systech's Chief Executive Officer. Mr. Ohanian
continued, "our solutions are complementary, and the combined
offerings will strengthen our brand promise of delivering
authentic, safe and connected products across the supply chain,
from manufacturing to the consumer's hands."
Terms of the transaction were not disclosed. The transaction is
subject to satisfaction of customary closing conditions, including
applicable regulatory approvals, and is expected to close in the
first quarter of 2020. Atlas Technology Group and
Chiesa Shahinian & Giantomasi,
PC acted as financial advisor and legal advisor, respectively, to
Systech.
About Systech International:
Systech International, a Princeton, New Jersey-based company, has
developed an innovative software suite of authentication and
traceability solutions to combat counterfeiting, prevent diversion
and meet regulatory compliance. Built on decades of experience as
the leader in pharmaceutical serialization, Systech is
revolutionizing brand protection with its comprehensive suite
that delivers the real-time insight, actionable product data,
digital connectivity and consumer engagement functionality needed
to fight supply chain threats. Global brands across industries rely
on Systech to keep their products authentic, safe and
connected as they move through the supply chain. Visit
www.systechone.com for further information.
About Dover:
Dover is a diversified global manufacturer with annual
revenue of approximately $7 billion.
Dover delivers innovative equipment and components, specialty
systems, consumable supplies, software and digital solutions, and
support services through five operating segments: Engineered
Products, Fueling Solutions, Imaging & Identification, Pumps
& Process Solutions and Refrigeration & Food Equipment.
Dover combines global scale with operational agility to lead the
markets we serve. Recognized for its entrepreneurial approach for
over 60 years, Dover's team of approximately 24,000 employees takes
an ownership mindset, collaborating with customers to redefine
what's possible. Headquartered in Downers
Grove, Illinois, Dover trades on the New York Stock Exchange
under "DOV." Additional information is available at
www.dovercorporation.com.
About Markem-Imaje:
Markem-Imaje, an indirect wholly-owned subsidiary of Dover, is a
trusted world manufacturer of product identification and
traceability solutions, offering a full line of reliable and
innovative inkjet, thermal transfer, laser, and print and apply
label systems. Markem-Imaje provides global reach to over 50,000
customers with 30 subsidiaries, 6 technology centers, several
equipment repair centers and manufacturing plants with the most
comprehensive marking and coding portfolio available in the
marketplace. Additional information is available at
www.markem-imaje.com.
Media Contact:
Jefferson
Barr
Vice President – Marketing
(609) 235 8446
jefferson.barr@systechone.com
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