It’s Official: EFI Acquired by Siris Capital
Electronics For Imaging (EFI) reported today that its acquisition by private-equity firm Siris Capital has been completed, with Siris purchasing EFI for approximately $1.7 billion.
EFI will continue to operate as Electronics For Imaging (EFI), and will be wholly owned by an affiliate of Siris. EFI’s shares will be delisted from the NASDAQ stock exchange.
EFI CEO Bill Muir commented: “This acquisition marks a new, exciting path forward in EFI’s 30-year history as a digital imaging technology leader. 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.”
In June 2019, Siris announced that former Xerox CEO Jeff Jacobson had joined Siris as an executive partner. Jacobson was one of the casualties of investor Carl Icahn’s battle against a now-scuttled Fujifilm acquisition of Xerox. Jacobson resigned as Xerox CEO, along with several Xerox board members, last May.
Jacobson commented also commented on the EFI acquisition: “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 percent of EFI’s outstanding shares and 99.7 percent of voted shares were voted in favor of the transaction.
- July 2019: EFI, Memjet Form New Partnership
- June 2019: Former Xerox CEO Joins Siris
- May 2019: New EFI Acquisition Said to Bolster Firm’s Digital Textile Printing
- April 2019: EFI To Be Acquired by Private-Equity Firm Siris Capital
- January 2019: EFI Reports Fourth-Quarter, Full-Year Financial Results
- January 2019: EFI to Preview to New Fiery DFE, High-Speed LED Inkjet Solutions
- October 2018: EFI Posts Third-Quarter Results