Not all the Israeli technology companies exist just in order to sell themselves to a foreign giant and make a quick buck. AVT under the consistent excellent leadership of the ExScite
Shlomo Amir
is doing it the old fashion way- they earn it.
The Ramat Hasharon, Israel based Advanced Vision Technology (AVT), Ltd., a leader in automatic inspection solutions for printing applications, is pleased to announce the planned acquisition of Graphic Microsystems, Inc. (GMI), from Dover Diversified, Inc., which is a subsidiary of Dover Corporation, for $33 million in cash. GMI is a leading manufacturer of pressroom automation equipment.
Commenting on the acquisition, Shlomo Amir, President and CEO of Advanced Vision Technology said: “AVT has been enjoying double digit growth for the last five years. H1 2007 net income was $ 3.5 million on revenue of $15.9 million – and market conditions coupled with healthy cash reserves meant the time was right to seek out a suitable acquisition target.”
AVT develops and manufactures automatic inspection solutions for printing applications, mainly in the packaging & labels sectors. As of today, more than 1,600 PrintVision platforms are installed worldwide. AVT is a public company listed in the Prime Standard of the Frankfurt Stock Exchange. AVT’s headquarters and manufacturing facility is located in Hod Hasharon, Israel, with marketing, sales and support offices in the United States, Europe and China.
See comlete press release here.
