Through one of its affiliates, private equity firm Siris has completed its takeover of EFI.
The acquisition for approximately US$1.7bn ($26bn) sees EFI continuing to operate as Electronics For Imaging (EFI) and the NASDAQ exchange will delist its common shares.
Bill Muir, chief executive at EFI, says, “This acquisition marks a new, exciting path forward in EFI’s 30-year history as a digital imaging technology leader.
“With Siris’s 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, adds, “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 colourful images matter.”
The transaction, initially announced on April 15, received shareholder approval on July 15, which saw 72.2 per cent of EFI’s outstanding shares, and 99.7 per cent of voted shares, voted in favour of the transaction.