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Dover Signs Agreement to Sell Triton Systems
Jul 30, 2008 (10:07 AM EDT)
NEW YORK, July 30 /PRNewswire-FirstCall/ -- Dover Corporation announced today that its Engineered Systems segment has signed an agreement to sell Triton Systems of Delaware, Inc., a global provider of ATMs, to Nautilus Hyosung Inc., a subsidiary of Hyosung Corporation, a diversified $7 billion revenue company based in Seoul, Korea. Nautilus Hyosung is a global manufacturer of complete ATM solutions, including hardware, software and services to the entire ATM market.
This transaction is anticipated to close during the third quarter of 2008, pending regulatory approval. Terms of the transaction were not disclosed.
"Triton offers an ideal fit with Nautilus Hyosung as we expand our global footprint," said P. K. Ryou, CEO and President of Nautilus Hyosung. "We look forward to adding Triton's strong brand and outstanding customer service with Nautilus Hyosung to provide our customers with the most comprehensive ATM offering in the marketplace," continued Ryou.
Bill Johnson, Triton's CEO added, "We are very excited about Triton's future with Nautilus Hyosung. We believe the complementary cultures of innovation and customer service will provide a strong platform for growth to compete effectively in the ATM marketplace as well as benefit customers both domestically and globally."
Triton Systems of Delaware, Inc., a Dover company, is a global producer of ATMs. It has been a trusted name in the ATM industry, providing reliable and affordable products, for over 20 years.
Dover Corporation, with over $7 billion in annualized revenues, is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets.
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CONTACT: Paul Goldberg, Director of Investor Relations of DoverCorporation, +1-212-922-1640
Web site: http://www.dovercorporation.com/