Dover Acquires Site IQ, Provider of Remote Monitoring for Fueling Sites

Rhea-AI Summary

Dover Corporation (NYSE: DOV) has announced the acquisition of Site IQ LLC (SIQ), an industrial Internet of Things company specializing in remote monitoring of fueling sites. SIQ will be integrated into Dover's Fueling Solutions (DFS) business unit within its Clean Energy & Fueling segment.

The acquisition enhances Dover's capabilities by adding comprehensive remote monitoring and analytics solutions for fuel dispensers. SIQ's technology connects retailers and service companies, offering actionable intelligence and remote hardware service capabilities that can help reduce operating costs and improve maintenance efficiency.

Positive

• Expands Dover's remote monitoring and analytics capabilities in the fueling sector
• Enhances service offerings with end-to-end solutions for fuel dispenser monitoring
• Potential for customer cost reduction and maintenance efficiency improvements
• Strategic expansion in IoT and digital solutions for fuel retail

Negative

• Financial terms not disclosed, impact on Dover's finances unknown
• Integration costs and challenges may affect short-term performance

DOWNERS GROVE, Ill., Aug. 4, 2025 /PRNewswire/ -- Dover Corporation (NYSE: DOV) today announced that it has acquired Site IQ LLC ("SIQ"), which is now part of the Dover Fueling Solutions ("DFS") business unit within Dover's Clean Energy & Fueling segment.

Headquartered in Lombard, Illinois, SIQ is an industrial internet of things company with a focus on remote monitoring of fueling sites. SIQ's hardware and software products expand Dover's ability to deliver a comprehensive solution that brings actionable intelligence and remote hardware service to retailers and service companies.

"SIQ fulfills a need in the industry for an end-to-end solution that connects retailers and service companies with fuel dispensers," stated David Crouse, President of DFS. "This acquisition provides us with industry leading remote monitoring and analytics capabilities, which can reduce operating costs and improve efficiency of maintenance for our customers."

Terms of the transaction were not disclosed.

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of over $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, 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 70 years, our team of approximately 24,000 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, 2024, 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: 
Jack Dickens 
Vice President – Investor Relations 
(630) 743-2566 
jdickens@dovercorp.com 

Media Contact: 
Adrian Sakowicz 
Vice President – Communications 
(630) 743-5039 
asakowicz@dovercorp.com  

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SOURCE Dover

FAQ

What company did Dover (NYSE: DOV) acquire in August 2025?

Dover acquired Site IQ LLC (SIQ), an industrial IoT company specializing in remote monitoring of fueling sites, based in Lombard, Illinois.

How will the Site IQ acquisition benefit Dover's customers?

The acquisition will help customers reduce operating costs and improve maintenance efficiency through advanced remote monitoring and analytics capabilities for fuel dispensers.

Which Dover business unit will integrate Site IQ?

Site IQ will be integrated into Dover Fueling Solutions (DFS), which is part of Dover's Clean Energy & Fueling segment.

What are Site IQ's main products and services?

Site IQ provides hardware and software products for remote monitoring of fueling sites, offering actionable intelligence and remote hardware service solutions for retailers and service companies.

What was the acquisition price for Site IQ?

The financial terms of Dover's acquisition of Site IQ were not disclosed in the announcement.