Gerber Scientific Announces Signing of Letter of Intent to Acquire Data Technology, Inc.
SignIndustry.com - The Online Magazine for the Sign Trade. Home | Site Map | Buyer's Guide Search  :
Event Calendar Article Archive Message Boards Classifieds Product Showcases News Advertise Search Join Now

CATEGORIES
  3-D Signs
  ADA
  Architectural
  Awnings &
  Flexible Face
  Banners
  Business Development
  CNC Routing
  Computer Technology
  Digital Imaging
  Direct-To-Garment
  Dynamic Digital
  Electric
  Estimating
  Finishing & Lams 
  Flatbed UV
  Installation
  LED Displays
  LED Lighting
  Neon & LED
  Channel Letter
  Outdoor
  Painted Signs
  Screen Printing
  Sublimation
  Vinyl Signs
  Hot Shots
  Press Releases
  Tips & Tricks
  Industry Resources
  Books
  Event Calendar
  Associations
  Business Center
  Retail Sign Shops
  Advertising Info

Estimate Software- Printing software that helps you find the hidden treasure in your business.



PRESS RELEASE

FOR IMMEDIATE RELEASE
April 13, 2007

Gerber Scientific Announces Signing of Letter of Intent to Acquire Data Technology, Inc.

SOUTH WINDSOR, CT -- Gerber Scientific, Inc. (NYSE: GRB) announced today that it has signed a non-binding letter of intent to acquire Data Technology, Inc., a leading manufacturer of automated cutting hardware for the design, die making and short run production segments of the packaging and graphics industries.

Data Technology, Inc., a privately owned company based in Wilmington, MA with annual revenue of approximately $10 million, has a long history of providing innovative solutions. The recent release of its M platform cutting solutions extends the company’s performance and technical capabilities. With about 3,000 installations worldwide, Data Technology has established itself as a trusted industry leader.

Marc T. Giles, President and CEO of Gerber Scientific, Inc., stated: “Our corporate strategy has been to supplement organic growth with key strategic acquisitions. Data Technology will enable Gerber to provide the sign making, specialty graphics and package and print industries with the greatest range of precision cutting technologies. These products will also be attractive to Gerber Technology customers, and we plan to leverage this opportunity. We are excited about this addition to our product offering and look forward to building on our combined heritage of innovation and process automation for our customers.”

David H. Buckley, President and CEO of Data Technology, Inc., added: “We are looking forward to joining the Gerber team. This strategic alignment will provide Data Technology with the opportunity to expand its global market reach through Gerber’s vast distribution channels.”

Greg McCarter, COO of Tubelite Inc., a leading distributor of Gerber’s sign making and specialty graphics products, commented: “As one of Gerber’s largest distributors, we believe that this acquisition will significantly enhance Gerber’s product offerings in this fast growing marketplace. We look forward to working with the Data Technology team over the coming months and years.”

Gerber Scientific and Data Technology are in the process of concluding a definitive purchase agreement. We expect to complete the acquisition early in the first quarter of fiscal year 2008, which ends July 31, 2007.

About Gerber Scientific, Inc.
Gerber Scientific, Inc. (http://www.gerberscientific.com) is a leading international supplier of sophisticated automated manufacturing systems for sign making and specialty graphics, apparel and flexible materials, and ophthalmic lens processing. Headquartered in South Windsor, Connecticut, the company operates through four businesses: Gerber Scientific Products and Spandex Ltd., Gerber Technology, and Gerber Coburn.

Forward-looking Statements:
In addition to the historical information contained herein, there are matters discussed that are considered to be "forward-looking statements." These forward-looking statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental, and technological factors affecting the Company's operations, markets, products, and services, that could significantly affect results in the future. For a discussion of other risk factors relating to the Company's business, see the Company’s Annual Report on Form 10-K for the year ended April 30, 2006, as filed with the Securities and Exchange Commission. The forward-looking statements contained in this release are made as of the date of this release, and the Company expressly disclaims any obligation to update or revise any forward-looking statements contained in this release, except as required by law.

Gerber Scientific, Inc.
83 Gerber Road West
South Windsor, CT 06074
Phone: 860-644-1551
E-Mail:
Website URL: www.gerberscientific.com

Company
Home
Advertising Info
About Us
Contact Us
Privacy Policy
Site Map
Resources
Industry Resources
Associations
Retail Sign Shops
Books
Product Showcase
Event Calendar
Tips & Tricks
Message Boards
Classifieds
Buyer's Guide Listings
Search
Add My Company
Edit My Company

 

© Copyright 1999-2012, All Rights Reserved.