Dover subsidiary buys FLIR Systems unit

AP News
Posted: Dec 16, 2009 11:26 AM

A subsidiary of industrial products company Dover Corp. purchased the data systems division of a FLIR Systems Inc. subsidiary for an undisclosed sum, the companies said Wednesday.

Dover's Datamax-O'Neil unit, which makes label and receipt printing products, acquired Extech Instruments' data systems division, maker of portable printers.

Dover said the transaction was part of its efforts to expand its presence in markets for product identification. The former Extech unit will be fully integrated into Datamax-O'Neil during a four-month period and will make printers with the Datamax-O'Neil brand.

FLIR Systems said the transaction will be immaterial to its financial results.

Shares of FLIR Systems rose 26 cents to $30.48 in morning trading while Dover shares added 49 cents to $41.85.