GERBER TECHNOLOGY ANNOUNCES THE ACQUISITION OF DATA TECHNOLOGY, INC.
25 May 2007
Connecticut, USA – Gerber Scientific, Inc. (NYSE: GRB), the parent company of Gerber Technology, has successfully completed the acquisition of Data Technology, Inc. Data Technology, based in Wilmington, MA, is a leading manufacturer of multi-functional, precision cutting systems for the packaging, graphics, and other rigid and flexible materials applications.
In its last fiscal year Data Technology recorded annual revenues of slightly under $10 million. This week, integration of the two companies’ operations, networks and customer facing organizations has started in order to ensure a smooth transition and immediate value for customers, partners and investors.
John Hancock, president of Gerber Technology, stated, "Our global distribution and service network, and the breadth of our market presence, are an ideal platform to expand Data Technology's business reach. We continue to seek strategic acquisition opportunities to expand our product offering and augment the organic growth-rate of our business."
Sam Simpson, Gerber Technology's vice president of Global Sales, added, "Data Technology’s precision cutting systems give us new tools that strengthen our ability to supply specialized, innovative solutions to our customers in fast-growing market segments like Technical Textiles and Composites."
David H. Buckley, president and CEO of Data Technology, stated, “We are excited about the acquisition by Gerber, as its global multi-market distribution channels and commercial brand development expertise are a perfect compliment to the broad suite of advanced cutting technologies currently offered by Data Technology.”
About Gerber Technology Gerber Technology (http://www.gerbertechnology.com/), a business unit of $530 million corporation Gerber Scientific, Inc., develops and manufactures the world's leading brands of integrated software and hardware automation systems for the sewn products and flexible materials industries. These systems automate and significantly improve the efficiency of information management, product design and development, pre-production, and production processes. The company offers specialized solutions to a variety of end-user markets including apparel, transportation interiors, furniture, composites and industrial fabrics. Gerber Technology’s world headquarters are located in Tolland, Connecticut, U.S.A. with regional offices, agents and distributors in 125 countries serving a total of over 17,500 customers through seven Customer Solutions Centers on six continents. The company engineers and manufactures its products in various locations in the United States, Europe and Asia.
Established in 1968, Gerber Technology is one of four businesses of Gerber Scientific, Inc. (http://www.gerberscientific.com/) of South Windsor, Connecticut, U.S.A., a corporation listed on the New York Stock Exchange under the “GRB” symbol.
