TEL AVIV (Reuters) - Israel-based Advanced Vision Technology Ltd AVTE.DE, which develops automatic print inspection systems, said on Monday it has agreed to be acquired by Danaher Corp's (DHR.N) product identification platform for $100 million.
Washington-based Danaher, a manufacturing company with s annual sales of $17 billion, will pay 14.5 euros per share in cash for AVT, whose shares were up 20 percent to 14 euros in Frankfurt.
AVT's optical inspection systems replace the human eye in inspecting packaging and labels. Many of its customers are served by X-Rite and Esko, companies within Danaher's platform.
The transaction is expected to be completed in the second quarter of 2017.
Reporting by Tova Cohen