Israeli company Advanced Vision Technology (AVT), which specializes in automatic printing solutions, announced that it has entered into a merger agreement with Pelican Merger Holdings Israel Ltd. In accordance with the merger, the company will be acquired by the US manufacturing corporation Danaher in a deal worth $100 million. The acquisition is expected to be completed in the second quarter of 2017.
AVT’s printing inspection systems are used by packaging and label producers around the world to improve the quality of their products. The company provides services such as print process control, quality assurance and color control solutions for packaging, label, and commercial print companies. The company is headquartered in Hod-Hasharon, Israel with offices in the United States, Europe and China.
AVT already serves many of the same customers as Danaher's subsidiaries X-Rite and Esko, and the acquisition will facilitate the integration of the companies' services. Danaher’s Product Identification Platform is a group of technology companies that helps companies to deliver goods from concept to consumer faster and with improved quality.
“This is an exciting next step in the development of AVT, both for our customers and for our associates," commented Jaron Lotan, the company's CEO, in a statement. "Being part of Danaher’s Product Identification Platform will strengthen our ability to continue to execute our existing strategy and will enable us to bring more innovative and connected solutions for the packaging and label value chain.”
"We are thrilled to have AVT join Danaher's Product Identification Platform, which includes X-Rite, Pantone, Esko, MediaBeacon, Videojet, Linx, Laetus and Foba," added Joakim Weidemanis, Group Executive for Danaher’s Product ID platform. "AVT is an outstanding business characterized by innovative products, a strong brand, dedicated team and excellent growth prospects. We see AVT as a natural complement to our platform of businesses serving packaging and label production value chain.”
Read more: AVT (Press release)