By: E&P Staff Advanced Vision Technology Ltd., Hod Hasharon, Israel, developer of automatic inspection solutions for printing applications, today announced its acquisition of Graphic Microsystems Inc., maker of pressroom automation equipment based in Sunnyvale, Calif.
In the deal, which closed yesterday, AVT paid $33 million to a subsidiary of diversified industrial manufacturer Dover Corp. for all GMI stock and certain intellectual property assets.
AVT develops automatic inspection solutions for print process control and quality assurance in packaging and label converting. GMI supplies closed-loop color-control systems, color-management and reporting software, and remote digital ink-fountain control systems to coldest and heatset printers and press makers.
Besides customers that include Transcontinental Inc., Quebecor World Inc. and RR Donnelly & Sons Co., the company works with press manufacturers Goss International, MAN Roland Druckmaschinen AG, Koenig & Bauer AG, Manugraph Dauphin Graphic Machines Inc. and Muller-Martini AG.
AVT President and CEO Shlomo Amir noted that GMI parent company Dover chose to divest as it shifted its focus to larger businesses. He said in a statement that GMI sales for the first six months of 2007 were $18.8 million, representing 13% growth over the same period in 2006. In 2007, GMI also returned its field service division to profit. Amir also said international sales are expected to account for 40% of revenue in 2007, with near-term expansion expected for Eastern Europe and long-term sights set for China and the Far East.
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