Electronics For Imaging, Inc. (EFI), a world leader in customer-focused digital printing innovation has announced that it has entered into a definitive agreement to be acquired by an affiliate of Siris Capital Group, LLC in an all-cash transaction valued at approximately $1.7 billion.
Siris is a leading private equity firm focused on investing and driving value creation in technology companies that provide mission critical solutions and are facing technology transitions.
Under the terms of the Agreement, which has been unanimously approved by EFI’s Board of Directors, an affiliate of Siris will acquire all the outstanding common stock of EFI for $37.00 per share in cash.
The transaction is expected to close by the third quarter of 2019 and is subject to approval by EFI’s shareholders, along with the satisfaction of customary closing conditions including antitrust regulatory approvals. The transaction is not subject to any financing conditions. Upon completion of the acquisition, EFI will become wholly owned by an affiliate of Siris.
Furthermore, Siris looks forward to supporting EFI’s strong team to help the company foresee evolving customer needs and drive new opportunities for innovation and growth.