Systech International (“Systech”) announced yesterday 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, Systechwill 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.