Dover Acquires Criteria Labs, a Leading Provider of RF Device and Microelectronic Engineering Solutions

Rhea-AI Summary

Dover (NYSE: DOV) has announced the acquisition of Criteria Labs, a leading provider of RF device and microelectronic engineering solutions for high-reliability applications across various industries. Criteria Labs will become part of Dover's Microwave Products Group (MPG) within its Engineered Products segment.

The acquisition is expected to enhance MPG's capabilities in meeting Size, Weight, and Power (SWaP) requirements important for electronic warfare and communication systems. Criteria Labs' expertise will enable MPG to develop more compact and lighter designs without compromising performance and reliability.

Criteria Labs operates facilities in Austin, Texas, which includes a large clean room for space test engineering, assembly, and packaging, and in Penrose, Colorado, specializing in electronic component tape and reel packaging services.

Positive

• Acquisition of Criteria Labs enhances Dover's capabilities in RF device and microelectronic engineering solutions
• Expands Dover's presence in high-reliability applications for space, aerospace, defense, and other industries
• Strengthens MPG's ability to meet Size, Weight, and Power (SWaP) requirements for electronic warfare and communication systems
• Enables development of more compact and lighter designs without compromising performance

Negative

• None.

Insights

Financial Analyst

Dover's acquisition of Criteria Labs marks a strategic move to enhance its capabilities in the high-reliability RF and microelectronics sector. This expansion into specialized markets like space, defense and automotive aligns with Dover's focus on engineered products. The deal should diversify Dover's revenue streams and potentially increase its profit margins due to the high-value nature of Criteria Labs' solutions.

While financial details weren't disclosed, the acquisition's impact on Dover's $8.5 billion annual revenue might be modest initially. However, the long-term potential is significant, especially considering the growing demand for SWaP-optimized components in critical industries. Investors should monitor how quickly Dover can leverage Criteria Labs' expertise to win new contracts and expand market share in these lucrative sectors.

Tech Expert

The integration of Criteria Labs into Dover's portfolio is a tech powerplay. By acquiring expertise in RF devices and microelectronic engineering for high-reliability applications, Dover is positioning itself at the forefront of critical technological advancements. The emphasis on Size, Weight and Power (SWaP) optimization is particularly noteworthy, as it's a key driver in modern electronic warfare and communication systems.

This acquisition could accelerate Dover's innovation in:

• Miniaturization of RF components
• Advanced packaging techniques for harsh environments
• Integration of RF solutions in emerging automotive and medical applications

The synergy between Criteria Labs' specialized knowledge and Dover's existing capabilities could lead to breakthrough products, potentially disrupting current market dynamics in high-tech sectors.

DOWNERS GROVE, Ill., Aug. 19, 2024 /PRNewswire/ -- Dover (NYSE: DOV) today announced that it has acquired Criteria Labs, Inc. ("Criteria Labs"), a leader in radio frequency "RF" device and microelectronic engineering solutions tailored for high-reliability applications in the space, aerospace, defense, commercial semiconductor, automotive, and medical industries. Criteria Labs is now part of the Microwave Products Group (MPG) within Dover's Engineered Products segment.

The company's primary location in Austin, Texas, includes a large clean room dedicated to space test engineering, assembly, and packaging, and its Penrose, Colorado, facility specializes in electronic component tape and reel packaging services.

The acquisition of Criteria Labs will enhance MPG's ability to meet exacting Size, Weight, and Power (SWaP) requirements which are crucial for electronic warfare and communication systems. The integration of Criteria Labs' advanced technology will allow MPG to innovate with more compact and lighter designs without compromising on performance and reliability.

About Dover:

Dover is a diversified global manufacturer and solutions provider with an annual revenue of over $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 65 years, our team of approximately 25,000 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 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, including statements regarding the anticipated effects of the transaction. 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, 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, 2023, and any subsequently filed Quarterly Reports on Form 10-Q and 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:
Jack Dickens	Adrian Sakowicz
Senior Director - Investor Relations	Vice President – Communications
(630) 743-2566	(630) 743-5039
jdickens@dovercorp.com	asakowicz@dovercorp.com

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SOURCE Dover

FAQ

What company did Dover (DOV) acquire on August 19, 2024?

Dover (DOV) acquired Criteria Labs, a leader in RF device and microelectronic engineering solutions for high-reliability applications.

How will the Criteria Labs acquisition benefit Dover's (DOV) Microwave Products Group?

The acquisition will enhance MPG's ability to meet Size, Weight, and Power (SWaP) requirements important for electronic warfare and communication systems, allowing for more compact and lighter designs without compromising performance and reliability.

What industries does Criteria Labs serve, as mentioned in Dover's (DOV) acquisition announcement?

Criteria Labs serves the space, aerospace, defense, commercial semiconductor, automotive, and medical industries with high-reliability RF device and microelectronic engineering solutions.

Where are Criteria Labs' facilities located following Dover's (DOV) acquisition?

Criteria Labs operates facilities in Austin, Texas, which includes a large clean room for space test engineering, assembly, and packaging, and in Penrose, Colorado, specializing in electronic component tape and reel packaging services.