Posts tagged: Siris

Siris Capital Acquires EFI in First Deal of Technology Buyout Fund

Ron Gilboa
 Apr 15, 2019

EFI: The Acquirer is Acquired
Siris Capital Group, LLC, a New York City-based private equity firm founded in 2011, announced the acquisition of Electronics for Imaging, Inc. (EFI) earlier today. The buyout is a pivotal moment for both graphic arts and industrial segments due to both the size and role that EFI plays throughout the industry; it is also a tribute to EFI’s skill, not only at acquiring promising companies over time, but also enlisting their talents and technologies to create synergy for whole of EFI. EFI’s many parts, from the original Fiery business to the industrial print technology divisions that EFI has acquired or developed over time, have become strategic partnerships, ones spanning hardware and software in sectors as diverse as networked office printers, sign & display graphics, ceramic, textile, and corrugated printing, all aided by a vast portfolio of workflow solutions.

The details of the transaction include a $1.7 billion all-cash investment which values EFI stock at $37 per share, approximately a 45% premium over the 90-day volume-weighted average price on April 12, 2019. Although the deal is expected to close by the third quarter of 2019, EFI can accept proposals from other companies over the next 45 calendar days.

Siris’ First Deal in Technology Buyout Fund
Private equity firms continue to focus on print-related technology companies with solid cash flows and future earnings potential as the analog-to-digital transformation continues for segments in our industry. Frank Baker, a Siris Co-Founder and Managing Partner, commenting on the role that EFI plays in enabling digital transformations, said  “We believe that, by partnering with Siris, EFI will be well positioned to capture this transformational opportunity associated with increased digital inkjet penetration, industrial automation and software enablement. We are eager to partner with management to help the Company achieve its strategic objectives.”

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