{"id":13455,"date":"2015-07-01T17:07:30","date_gmt":"2015-07-01T21:07:30","guid":{"rendered":"http:\/\/www.enxmag.com\/twii\/?p=13455"},"modified":"2015-07-01T17:07:30","modified_gmt":"2015-07-01T21:07:30","slug":"efi-extends-its-inkjet-product-line-and-technology-platform-with-acquisition-of-matan","status":"publish","type":"post","link":"http:\/\/www.enxmag.com\/twii\/news\/2015\/07\/efi-extends-its-inkjet-product-line-and-technology-platform-with-acquisition-of-matan\/","title":{"rendered":"EFI Extends its Inkjet Product Line and Technology Platform with Acquisition of Matan"},"content":{"rendered":"
Deal Solidifies EFI\u2019s Leadership in Production Inkjet for Display Graphics<\/em><\/div>\n
<\/div>\n
FREMONT, California — July 1, 2015<\/span> –<\/em>– Electronics For Imaging, Inc. (Nasdaq:EFII) has acquired privately-held Matan Digital Printers, an award-winning provider of innovative technologies for superwide-format display graphics and other industrial printing applications.<\/div>\n
\n\u201cThis acquisition gives EFI an even broader range of products to help our customers capture important opportunities in superwide-format display graphics printing,\u201d said EFI CEO Guy Gecht. \u201cMatan\u2019s strong R&D capability will further accelerate EFI\u2019s inkjet innovation, while filling a key spot in EFI\u2019s portfolio for a lower-acquisition cost line of roll-to-roll production printers focused on signage, banners, billboards and fleet graphics.\u201d<\/div>\n
<\/div>\n
\u201cOur technology and \u2013 most importantly \u2013 our customers have a great future ahead with EFI in terms of ongoing support and innovation,\u201d said former Matan President and CEO Hanan Yosefi. \u201cThe Matan team and I are excited to continue growing and innovating as part of one of the world\u2019s leading providers of industrial inkjet printing products.\u201d<\/p>\n

Based in Rosh Ha\u2019Ayin, Israel, Matan has developed digital printers and presses for a wide range of challenging industrial applications for more than a decade. The company\u2019s digital industrial inkjet printers are designed to offer high productivity, quality and durability, while ensuring a low cost of ownership. Matan\u2019s focus on roll-to-roll workflow has resulted in one of the industry\u2019s strongest offerings of material-handling features such as in-line cutting and slitting.<\/p>\n

Matan\u2019s work force of approximately 70 employees has joined EFI, giving EFI a significant presence in Israel, a center for innovation in the printing industry. Yosefi has joined EFI as vice president and general manager, EFI Inkjet Israel.<\/p>\n

EFI\u2019s acquisition was an all-cash transaction in which EFI paid the shareholders of Matan approximately $29 million to acquire all of Matan\u2019s outstanding shares. Under the purchase agreement, EFI also assumed approximately $5 million of Matan\u2019s debt, and deposited $14 million into escrow to serve as security for EFI\u2019s benefit for the indemnification obligations of the Matan shareholders. Subject to EFI\u2019s claims against the escrow, portions of the escrow may be released to the sellers in 2017 and 2022.<\/p>\n

The transaction is expected to be slightly accretive to FY 2015 earnings. The Company will provide selected financial information about its anticipated Q3 2015 results including the impact of this transaction during its regular Q2 2015 earnings call scheduled for July 21, 2015<\/span>.<\/p>\n

A presentation with additional information on the transaction is available on the investor relations portion of EFI\u2019s website at www.ir.efi.com<\/a>.<\/p>\n

About EFI<\/em><\/p>\n

EFI\u2122 (www.efi.com<\/a>) is a worldwide provider of products, technology and services leading the transformation of analog to digital imaging. Based in Silicon Valley, with offices around the globe, the company\u2019s powerful integrated product portfolio includes digital front-end servers; superwide, wide-format, label and ceramic inkjet presses and inks; production workflow, web to print, and business automation software; and office, enterprise and mobile cloud solutions. These products allow users to produce, communicate and share information in an easy and effective way, and enable businesses to increase their profits, productivity, and efficiency.<\/div>\n","protected":false},"excerpt":{"rendered":"

Deal Solidifies EFI\u2019s Leadership in Production Inkjet for Display Graphics FREMONT, California — July 1, 2015 –– Electronics For Imaging, Inc. (Nasdaq:EFII) has acquired privately-held Matan Digital Printers, an award-winning provider of innovative technologies for superwide-format display graphics and other industrial printing applications. \u201cThis acquisition gives EFI an even broader range of products to help our customers capture important opportunities in superwide-format display graphics printing,\u201d said EFI CEO Guy Gecht. \u201cMatan\u2019s strong R&D capability will further accelerate EFI\u2019s inkjet innovation, while filling a key spot in EFI\u2019s portfolio for a lower-acquisition cost line of roll-to-roll production printers focused on signage, banners, billboards and fleet graphics.\u201d \u201cOur technology and \u2013 most importantly \u2013 our customers have a great future ahead with EFI in terms of ongoing support and innovation,\u201d said former Matan President and CEO Hanan Yosefi. \u201cThe Matan team and I are excited to continue growing and innovating as part of one of the world\u2019s leading providers of industrial inkjet printing products.\u201d Based in Rosh Ha\u2019Ayin, Israel, Matan has developed digital printers and presses for a wide range of challenging industrial applications for more than a decade. The company\u2019s digital industrial inkjet printers are designed to offer high productivity, quality and durability, while ensuring a low cost of ownership. Matan\u2019s focus on roll-to-roll workflow has resulted in one of the industry\u2019s strongest offerings of material-handling features such as in-line cutting and slitting. Matan\u2019s work force of approximately 70 employees has joined EFI, giving EFI a significant presence in Israel, a center for innovation in the printing industry. Yosefi has joined EFI as vice president and general manager, EFI Inkjet Israel. EFI\u2019s acquisition was an all-cash transaction in which EFI paid the shareholders of Matan approximately $29 million to acquire all of Matan\u2019s outstanding shares. Under the purchase agreement, EFI also assumed approximately $5 million of Matan\u2019s debt, and deposited $14 million into escrow to serve as security for EFI\u2019s benefit for the indemnification obligations of the Matan shareholders. Subject to EFI\u2019s claims against the escrow, portions of the escrow may be released to the sellers in 2017 and 2022. The transaction is expected to be slightly accretive to FY 2015 earnings. The Company will provide selected financial information about its anticipated Q3 2015 results including the impact of this transaction during its regular Q2 2015 earnings call scheduled for July 21, 2015. A presentation with additional information on the transaction is available on the investor relations portion of EFI\u2019s website at www.ir.efi.com. About EFI EFI\u2122 (www.efi.com) is a worldwide provider of products, technology and services leading the transformation of analog to digital imaging. Based in Silicon Valley, with offices around the globe, the company\u2019s powerful integrated product portfolio includes digital front-end servers; superwide, wide-format, label and ceramic inkjet presses and inks; production workflow, web to print, and business automation software; and office, enterprise and mobile cloud solutions. These products allow users to produce, communicate and share information in an easy and effective way, and enable businesses to increase their profits, productivity, and efficiency.<\/p>\n","protected":false},"author":67,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[86],"tags":[179],"_links":{"self":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/13455"}],"collection":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=13455"}],"version-history":[{"count":3,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/13455\/revisions"}],"predecessor-version":[{"id":13458,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/13455\/revisions\/13458"}],"wp:attachment":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=13455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=13455"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=13455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}