In connection with the closing of the transaction, EFI, 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.
EFI’s completion of its acquisition by an affiliate of Siris is valued at approximately R23.9 billion ($1.7 billion). ‘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 colourful images matter.’
The transaction, which was initially announced on April 15, was approved in a shareholder vote on July 15, in which 72.2% of EFI’s outstanding shares and 99.7% of voted shares were voted in favour of the transaction.
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