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Notable Mergers and Acquisitions of the Day 12/16: DOV/FLIR, IBM, HSC


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December 16, 2009 11:03 AM EST
  • Dover Corporation (NYSE: DOV) announced today that Datamax-O'Neil, a Dover operating company in its Engineered Systems Segment and a global provider of label and receipt printing solutions, has acquired Extech Instruments' Data Systems Division, one of the world's leading developers of portable printers for enterprise-wide applications. Extech Instruments, based in Waltham, Massachusetts is a subsidiary of Flir Systems. Financial terms of the transaction were not disclosed.

    The acquisition is reflective of Datamax-O'Neil's long-term strategy to strengthen its strong position in the global Auto-ID marketplace and Dover's desire to grow its product identification footprint. Dover expects the division to be fully integrated into Datamax-O'Neil over a four month period with all printers marketed under the Datamax-O'Neil brand.

    Raymond Hoglund, Dover Engineered Systems President and Chief Executive Officer said, "The acquisition of Extech's portable printing division expands Datamax-O'Neil's product line and customer base while at the same time enhancing the Company's overall technology. This acquisition fits squarely within Dover's strategy of pursuing synergistic acquisitions that strengthen and better position our companies serving targeted end-markets such as product identification."

  • IBM (NYSE: IBM) today announced it has signed a definitive agreement to acquire Lombardi, a privately held software company based in Austin, Texas. Financial terms were not disclosed. Lombardi, a leading provider of Business Process Management (BPM) software and services, helps organizations automate and integrate business processes to increase efficiencies and reduce costs.

    Organizations are struggling to find ways to simplify their business operations to better reach partners and clients, improve decision-making and increase their return on investment. The management of processes supporting business functions such as product planning, supply chain execution, insurance application and claims management, human resources, IT services and procurement is vital to the success of every business. Helping companies automate these processes to make them more consistent, predictable and cost-efficient is a major requirement for businesses today.

    According to IDC, the market opportunity for BPM software will increase at a compound annual growth rate of nearly 15 percent over the next four years, from $1.7B in 2009 to $3.0B by 2013.

    Lombardi's department-level approach to delivering process management complements IBM's existing strengths in enterprise-wide process management software and adds a new and compelling dimension for customers looking for an end-to-end, integrated solution that automates human tasks and workflows.

    "Any discussion on business improvement inevitably leads to improving the processes that are at the heart of every company," said Craig Hayman, general manager, IBM Application and Integration Middleware. "Recognizing this, IBM has strengthened its presence and investments in business process and integration software to meet these growing client demands. Lombardi fills out our company's portfolio in this key area."

  • Harsco Corporation (NYSE: HSC) announced today another step in its continuing strategic expansion with its execution of a purchase agreement to acquire Bell Scaffolding Group, one of Australia's largest, privately owned infrastructure solutions companies. The acquisition is expected to close in early January 2010. Terms were not disclosed.

    Operating across the eastern seaboard of Australia through a network of branch locations, Bell Scaffolding is a fully integrated infrastructure solutions provider serving the industrial, infrastructure and commercial construction sectors. Bell's capabilities range from technical design and support through supply and erect contracts as well as sales. The company's long-standing client list includes some of Australia's largest and best-known industrial, mining and construction companies.

    "Bell Scaffolding is the type of solid, geographically well-positioned company we have been seeking to further grow our market share within Australia and the Asia-Pacific region," said Harsco Chairman and CEO Salvatore D. Fazzolari. "Coupled with our recently announced joint venture with one of China's largest construction groups and our growing presence in other parts of this region including India, Harsco is bringing together the essential ingredients for a strong and sustainable market presence in this active and important region."

    The acquisition also complements Harsco's recently-announced purchase of ESCO Interamerica, which is one of Latin America's premier engineering and equipment services providers to the infrastructure sector. Completed last month, the ESCO acquisition has immediately expanded Harsco's existing Latin America presence with seven additional countries of operation and provides a gateway into additional countries such as Brazil.
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