US manufacturing company Danaher Corp. (NYSE: DHR) is buying Israeli automatic print inspection systems company Advanced Vision Technology Ltd. (XETRA:VSJ) for $100 million. Danaher will pay €14.5 per share in cash for AVT.
AVT's board of directors has unanimously accepted the offer and has recommended that the shareholders also do so. The acquisition is expected to be completed in the second quarter of 2017.
Based in Hod Hasharon, AVT's automatic print inspection systems ensure quality and color for the packaging and labels market. The company will become part of Danaher's product identification platform division.
AVT's optical inspection systems replace the human eye in inspecting packaging and labels and its leading products include X-Rite and Esko, which serve customers that use Danaher's platform.
AVT CEO Yaron Lotan said, "This is a major and exciting step in the development of AVT, which will benefit our customers and our employees. Our becoming part of Danaher's product identification platform division will strengthen our ability to implement our current strategy and allow us to bring a range of innovative solutions combined with the value and supply chain of packaging manufacturers.
Danaher Corporation was represented by Amit Steinman and Phillip Waldoks from S. Horowitz & Co. AVT is represented by David Cohen from Tulchinsky & Co.
Published by Globes [online], Israel business news - www.globes-online.com - on March 6, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017
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