AVT To Be Acquired by Danaher
- Published: March 17, 2017
HASHARON, ISRAEL | Advanced Vision Technology (AVT), a supplier of l automatic print inspection, process control, quality assurance, and color control for printing applications has entered into a definitive merger agreement with Pelican Merger Holdings Israel Ltd. pursuant to which it will be acquired by the Product Identification Platform of Danaher Corporation. Pelican Merger Holdings Israel Ltd. will acquire all of the outstanding shares of AVT for €14.50/share in cash.
Many of AVT’s customers are served by X-Rite and Esko, market-leading companies within Danaher’s Product Identification Platform. Combining AVT’s strong position in print inspection and quality control with X-Rite’s color inspection capabilities and Esko’s packaging workflow reportedly will enable all three companies to offer solutions that simplify management of complex packaging value chains for both packaging converters and CPG brand owners.
Jaron Lotan, AVT’s CEO, says, “This is an exciting next step in the development of AVT, both for our customers and for our associates. 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…," says 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.”
AVT’s board of directors has unanimously approved the transaction and has unanimously recommended that AVT shareholders approve the transaction. The transaction, which is subject to customary conditions, including approval by AVT’s shareholders, is expected to be completed in the second quarter of 2017.
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