EFI Acquired by Private Equity Firm Affiliate in Approximately $1.7B Deal
EFI has announced the completion of its previously announced acquisition by an affiliate of Siris Capital Group for approximately $1.7 billion.
In connection with the closing of the transaction, the company, which will continue to operate as Electronics For Imaging (EFI), will be wholly owned by an affiliate of Siris, and EFI’s common shares will be delisted from the NASDAQ exchange.
“This acquisition marks a new, exciting path forward in EFI’s 30-year history as a digital imaging technology leader,” said EFI CEO, Bill Muir. “With Siris’ partnership, we will look to create new opportunities for our customers, partners, and EFI employees worldwide. We are looking forward to working with Siris to write the next chapter of innovation across our growing portfolio of solutions.”
Jeff Jacobson, Siris Executive Partner and EFI Executive Chairman, added, “EFI’s portfolio of best-in-class solutions presents an exciting opportunity to drive further growth in high-quality inkjet and integrated, digital workflows. I look forward to working closely with management and know Siris is committed to providing the guidance and support needed to help EFI continue accelerating the transformation of industries where colorful images matter.”
The transaction, which was initially announced on April 15, 2019, was approved in a shareholder vote on July 15, 2019 in which 72.2% of EFI’s outstanding shares and 99.7% of voted shares were voted in favor of the transaction.
The preceding press release was provided by a company unaffiliated with Packaging Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Packaging Impressions.