EFI

History

2019: Siris Capital purchased Electronics For Imaging for $1.7 billion

On April 15, 2019 the private investment company Siris Capital Group announced purchase of Electronics For Imaging for $1.7 billion taking into account debts of the producer of industrial printers.

Counting on one stock of the sold company the cost of the transaction is $37 that is 26% more than a quotation rate to closing of the exchange on April 12 and also for 45% exceeds the average cost of the stocks Electronics For Imaging in 90 days prior to the declaration of sale to the company. After the announcement of the transaction of a stock of the company rose in price for 26% and reached a 18-month maximum. In 12 months before quotations increased by 4.8%.

The producer of industrial Electronics For Imaging printers is sold for $1.7 billion

It is going to close the transaction to the third quarter 2019. It was unanimously approved by Board of Directors of Electronics For Imaging and began to recommend to shareholders to make the same. However, under the terms of the agreement, 45 days during which they can consider other takeover offers of the company are provided to owners of Electronics For Imaging.

We consider that this transaction provides excellent and immediate profit for our shareholders and at the same time gives us the partner who can add strategic and operational experience to our business — the CEO of Electronics For Imaging  Bill Muir said.

The cofounder and the managing partner of Siris Frank Baker reported that Electronics For Imaging took the important place in the course of digital transformation of the market of technologies of image processing and printing, "relying on rich heritage of the software and the culture of innovations".

For payment of acquisition of Electronics For Imaging the Siris company agreed about crediting with banks RBC Capital Markets, KKR Capital Markets LLC Deutsche Bank Securities Inc Barclays, Credit Suisse and Macquarie Capital.^[1]

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