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NEW YORK, Aug. 16 /PRNewswire-FirstCall/ -- Dover Corporation (NYSE: DOV) announced today that its Dover Technologies subsidiary has signed a definitive agreement to acquire Markem Corporation. Terms of the transaction were not disclosed. With annualized sales of about $290 million, Markem will report to Dover Technologies and operate as an independent company in conjunction with DTI's Product Identification Group, which would then have annualized revenue over $800 million.

Markem, headquartered in Keene, New Hampshire, is a leader in innovative and reliable product identification solutions for the world's leading companies. Solutions include equipment, software, supplies and services, for industries including food and beverage, cosmetics, pharmaceutical, and electronics.

Given the effect of normal purchase accounting and estimated financing costs, during the first quarter of ownership, its results will have a negative impact on Dover's earnings in 2006 of approximately 3 cents per diluted share. Markem is currently projected to be slightly accretive to Dover's full year 2007 earnings. The transaction is subject to customary regulatory approvals, and is expected to close in late September 2006.

Ronald L. Hoffman, President and Chief Executive Officer of Dover, commented: "We are excited to have the opportunity to acquire Markem, which expands our strategically important product identification platform. Markem brings a strong brand, excellent complimentary products and a great management team to continue to develop new products and lead this business going forward. We believe that with Markem, we have a truly world class product identification platform which strengthens our technological leadership and offers us significant opportunities for further growth."

Dave Van Loan, President of Dover Technologies, commented: "Markem is a clear leader in the Product ID space with a variety of advanced technology solutions for product marking. Markem management has a history of product innovation that includes recently released hardware and software solutions to support the emerging Radio Frequency Identification (RFID) market with traceability solutions. We believe the Markem team will continue to find new opportunities to leverage its technology into other new applications, further strengthening and diversifying the offerings of Dover's Product ID group."

Jeffrey B. Miller, President of Markem, said: "Once we began reviewing our possible strategic alternatives, Dover clearly stood apart from the rest". "It was evident that Markem would integrate well with Dover from a business perspective. It was equally important that Dover encourages and supports Markem in maintaining its core values and collaborative culture as well as our commitment to community."

Statements in this release may be "forward-looking", which involve risks and uncertainties. These include economic and currency conditions, market demand, pricing, and competitive and technological factors, among others, as set forth more fully in the Company's SEC filings.

For further information on Markem Corporation, including applications, markets and products, visit its website at www.markem.com. Dover Corporation is a diversified industrial manufacturer with over $6 billion in annualized revenues from operating companies that manufacture specialized industrial products and equipment. Visit www.dovercorporation.com for further information.

SOURCE: Dover Corporation

CONTACT: Robert G. Kuhbach, Vice President, Finance, Dover Corporation,
+1-212-922-1640
Web site: http://www.dovercorporation.com
http://www.markem.com