DOWNERS GROVE, Ill.,
March 29, 2021 /PRNewswire/
-- Dover (NYSE: DOV) announced today that it has entered into
a commercial partnership agreement with, and acquired a minority
interest in, EdgePetrol Limited ("EdgePetrol"), an innovative
provider of cloud-based software for revenue and operating results
management to the retail fueling industry. By entering this new
strategic technology partnership, Dover will enhance its offering
of software solutions to the global convenience retail
industry.
Based in London, England and
founded in 2015, EdgePetrol offers a Software-as-a-Service solution
to help retail fuel operators optimize their station performance.
The secure, comprehensive solution operates in the Amazon Web
Service (AWS) environment and is a complementary platform for Dover
Fueling Solutions ("DFS"), which offers the enabling devices to
manage the flow of underlying data.
"This innovative fuel management software complements the DFS DX
cloud-based solutions and will help our customers improve their
business operations and results," said David Crouse, President of DFS. "This software
can also be deployed in other applications, providing DFS with
growth opportunities outside of retail fueling, including in
renewable energy for transportation and various other retail
verticals."
Crouse continued, "The minority investment we're making in
EdgePetrol aligns directly with our goals of both growing our
business through strategic partnerships such as these and
broadening our solutions and products portfolio and roadmaps. Our
commercial agreement enables DFS to market this product
globally."
Terms of the transaction were not disclosed.
About Dover:
Dover is a diversified global manufacturer and solutions
provider with annual revenue of approximately $7 billion. We deliver innovative equipment and
components, consumable supplies, aftermarket parts, software and
digital solutions, and support services through five operating
segments: Engineered Products, Fueling Solutions, Imaging &
Identification, Pumps & Process Solutions and Refrigeration
& Food Equipment. Dover combines global scale, operational
agility, world-class engineering capability and customer intimacy
to lead the markets we serve. Recognized for our entrepreneurial
approach for over 60 years, our team of over 23,000 employees takes
an ownership mindset, collaborating with customers to redefine
what's possible. Headquartered in Downers
Grove, Illinois, Dover trades on the New York Stock Exchange
under "DOV." Additional information is available
at www.dovercorporation.com.
Forward-Looking Statements:
This press release contains "forward-looking" statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended. All statements in this document other than
statements of historical fact are statements that are, or could be
deemed, "forward-looking" statements. Forward-looking statements
are subject to numerous important risks, uncertainties, assumptions
and other factors, some of which are beyond the Company's control.
Factors that could cause actual results to differ materially from
current expectations include, among other things, the impacts of
COVID-19, or other future pandemics, on the global economy and on
our customers, suppliers, employees, business and cash flows, other
general economic conditions and conditions in the particular
markets in which we operate, changes in customer demand and capital
spending, competitive factors and pricing pressures, our ability to
develop and launch new products in a cost-effective manner, and our
ability to realize synergies from newly acquired businesses. For
details on the risks and uncertainties that could cause our results
to differ materially from the forward-looking statements that may
be contained herein, we refer you to the documents we file with the
Securities and Exchange Commission, including our Annual Report on
Form 10-K for the year ended December 31,
2020, and our Current Reports on Form 8-K. These documents
are available from the SEC, and on our website,
www.dovercorporation.com. The Company undertakes no obligation to
publicly update any forward-looking statement, whether as a result
of new information, future events or otherwise.
Investor Contact:
|
Media Contact:
|
Andrey Galiuk
|
Adrian
Sakowicz
|
Vice President
– Corporate Development
|
Vice President –
Communications
|
and Investor Relations
|
(630) 743-5039
|
(630) 743-5131
|
asakowicz@dovercorp.com
|
agaliuk@dovercorp.com
|
|
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SOURCE Dover