AVT expands label market presence with Geiger acquisition

Advanced Vision Technology has acquired the Munich, Germany-based Geiger Vision Systems (GVS) GmbH. GVS, which specializes in automatic print defect detection equipment for the label printing industry, achieved sales of EUR 700,000 in 2001. The parties agreed not to disclose the purchase price that will be paid fully in cash.
Established in 1992, GVS develops quality assurance solutions for the labels print market, allowing printed characters to be be checked on a variety of substrates at high speeds. GVS solutions are used worldwide for label and bar code inspection with a particularly strong presence in the pharmaceutical package-printing sector. In addition, the company has developed optical character recognition (OCR) systems that are used by banks, insurance companies and the public sector.
To complete the acquisition, AVT will establish a subsidiary in Germany, into which all GVS activities will be incorporated. AVT Germany will focus on research and development and will be headed by GVS’s founder and Managing Director,. Axel Geiger. The purchase is expected to be completed in the third quarter 2002.
The well-established Geiger brand name and its presence in the label market advance the implementation of AVT's label market strategy, while the focused R&D will enhance the company’s ability to provide new solutions in shorter time frames.
"I am very much gratified to see Geiger Vision Systems become part of the world's leading company supplying automatic defect detection systems to the printing industry," says Axel Geiger. "GVS's particular technology and marketplace complements AVT’s experience and expertise. We share the same vision for the labels market, and working as part of AVT will be a rewarding and exciting experience. "
Shlomo Amir, president and CEO of AVT comments, "Geiger Vision Systems is an excellent match for AVT in terms of technology and market position. By expanding our product range, we will be able to tap into market growth opportunities in a more focused way than ever before. This move also strengthens AVT's position in the important German printing market.