02.06.07
Dover Corporation announced that its Dover Technologies subsidiary has completed the previously announced acquisition of Markem Corporation. Terms of the transaction were not disclosed.
With annualized sales of approximately $290 million, Markem will report to Dover Technologies and operate as an independent operating company in conjunction with DTI’s Product Identification Group, which will have annualized revenue of more than $800 million.
Markem is a leader in innovative and reliable product identification solutions for the world’s leading companies. Solutions include equipment, software, supplies and services for industries including food and beverage, cosmetics, pharmaceutical and electronics.
“We are pleased to welcome Markem into the Dover family,” said Ronald L. Hoffman, president and CEO of Dover. “The acquisition of Markem creates a leading global presence in the exciting product identification market for Dover. With the addition of Markem to our Product ID Group, we have enhanced our product offerings, expanded our customer base and extended our global reach.”
Markem also announced the closure of its Aellora Digital business unit, which provided digital chemistries, drop-on-demand ink jet systems and services for commercial, graphics and industrial printing, imaging and dispensing applications. The closing will affect approximately 25 job holders in the company. Markem will retain some Aellora intellectual property in chemistries and drop-on-demand ink jet devices.
“Aellora is a start-up that just didn’t have enough momentum at this stage in its life cycle to be self-sufficient,” said Jeff Miller, president, Markem Solutions. “While we had a number of potential bidders who had an interest in acquiring Aellora, licensing and intellectual property issues prevented us from making that happen successfully.”
With annualized sales of approximately $290 million, Markem will report to Dover Technologies and operate as an independent operating company in conjunction with DTI’s Product Identification Group, which will have annualized revenue of more than $800 million.
Markem is a leader in innovative and reliable product identification solutions for the world’s leading companies. Solutions include equipment, software, supplies and services for industries including food and beverage, cosmetics, pharmaceutical and electronics.
“We are pleased to welcome Markem into the Dover family,” said Ronald L. Hoffman, president and CEO of Dover. “The acquisition of Markem creates a leading global presence in the exciting product identification market for Dover. With the addition of Markem to our Product ID Group, we have enhanced our product offerings, expanded our customer base and extended our global reach.”
Markem also announced the closure of its Aellora Digital business unit, which provided digital chemistries, drop-on-demand ink jet systems and services for commercial, graphics and industrial printing, imaging and dispensing applications. The closing will affect approximately 25 job holders in the company. Markem will retain some Aellora intellectual property in chemistries and drop-on-demand ink jet devices.
“Aellora is a start-up that just didn’t have enough momentum at this stage in its life cycle to be self-sufficient,” said Jeff Miller, president, Markem Solutions. “While we had a number of potential bidders who had an interest in acquiring Aellora, licensing and intellectual property issues prevented us from making that happen successfully.”