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

1. Dover Corporation acquired Site IQ LLC to enhance remote monitoring solutions. 2. This acquisition strengthens Dover's Clean Energy & Fueling segment offerings. 3. New capabilities aim to reduce costs and improve maintenance efficiency. 4. Dover maintains a strong revenue base exceeding $7 billion annually. 5. Forward-looking statements indicate potential risks and uncertainties post-acquisition.

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FAQ

Why Bullish?

DOV's acquisition of SIQ could drive growth by enhancing service offerings, similarly to prior strategic acquisitions that bolstered revenue streams. Past examples, like the acquisition of OPW in 2013, resulted in an increase in market reach and profitability.

How important is it?

The acquisition aligns with market trends towards digital solutions in fueling, signaling a strategic move that can significantly impact DOV's competitive positioning and future earnings.

Why Long Term?

The acquisition will likely take time to integrate fully, but expected growth in the IoT space suggests long-term positive impacts similar to past benefits seen from acquisitions in technology sectors.

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SIQETNGEPH
, /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 [email protected]  Media Contact: Adrian Sakowicz Vice President – Communications (630) 743-5039 [email protected]   SOURCE Dover WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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