Acquisition expands global reach & scale of Systech's Brand Protection Suite™
PRINCETON, New Jersey, Jan. 8, 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.
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.
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.
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SOURCE Systech International