Dover to Buy Systech, Eyes Growth in Brand Protection Market
Summary
Dover Corporation DOV has entered into an agreement to acquire Systech International, a leading software and solutions provider for traceability of product, regulatory compliance and brand protection. Notably, the solution has aided FMCG and pharmaceutical manufacturers to meet rising customer demand for product traceability, safety and security. The latest acquisition will boost Markem-Imajes product identification and traceability solutions portfolio with high-end software and services for the growing global brand protection market. The guidance reflects solid order backlog across all business segments, productivity and cost initiatives, and execution of margin targets. The company has executed restructuring programs to better align costs and operations with the current market conditions through targeted facility consolidations, headcount reduction and other measures.