EFI Acquires Technique, Strengthens Global Print MIS Leadership
FOSTER CITY, Calif., Nov 19, 2012 (Menafn - GlobeNewswire via COMTEX) --EFI(TM) EFII, a world leader in customer-focused digital printing innovation, today announced that it has acquired Technique. Technique is a provider of MIS/ERP (management information systems and enterprise resource planning) software products for the publication, commercial and direct marketing print industries. While financial terms of the acquisition were not disclosed, it is not expected to be material to EFI's 2012 results.
"We are excited to have Technique join the EFI family and our expanding portfolio of business automation technologies. We welcome their strong customer install base in more than 20 countries and 4 continents, to our own large global client base," said Marc Olin, general manager of EFI's Productivity Software business unit. "We will also provide Technique customers an integrated workflow with our industry leading Fiery(R) digital front end and Inkjet portfolio including VUTEk(R), Jetrion(R) and wide format devices."
"Technique is thrilled about the opportunity to join EFI, which is becoming the clear leader and even larger provider in productivity software for printing companies worldwide," said Technique's CEO, Paul Cooper. "The world of print is changing quickly and being part of the EFI family gives our customers instant access to wider solutions from their portfolio, together with the opportunity for more local support."
Technique products will become part of EFI's Productivity Software portfolio. EFI intends to integrate support and operations of Technique into the existing Productivity Software organization and to continue to support the existing Technique client base.
Technique consists of privately held Technique Business Systems Limited, a UK company located in Leeds, UK, and Technique, Inc., a Delaware corporation. More information about the company, its award-winning products and clients can be found at: www.technique-mis.com.
EFI(TM) (www.efi.com) is a worldwide provider of products, technology and services leading the transformation of analog to digital imaging. Based in Silicon Valley, with offices around the globe, the company's powerful integrated product portfolio includes digital front-end servers; superwide, wide-format, label and ceramic inkjet presses and inks; production workflow, web to print, and business automation software; and office, enterprise and mobile cloud solutions. These products allow users to produce, communicate and share information in an easy and effective way, and enable businesses to increase their profits, productivity, and efficiency.
The Electronics For Imaging, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7332
Safe Harbor for Forward Looking Statements Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release that could be deemed forward-looking statements include, but are not necessarily limited to, statements regarding the impact of the acquisition on EFI's 2012 results, expansion of our product portfolio, our future product offerings to Technique customers, integration of Technique, and any statements or assumptions underlying any of the foregoing.
Forward-looking statements are subject to certain risks and uncertainties that could cause our actual future results to differ materially, or cause a material adverse impact on our results. Potential risks and uncertainties include, but are not necessarily limited to, unforeseen expenses; the difficulty of aligning expense levels with revenue; management's ability to forecast revenues, expenses and earnings; any world-wide financial and economic difficulties and downturns; adverse tax-related matters such as tax audits, changes in our effective tax rate or new tax legislative proposals; the unpredictability of development schedules and commercialization of products by the leading printer manufacturers and declines or delays in demand for our related products; changes in the mix of products sold; the uncertainty of market acceptance of new product introductions; intense competition in each of our businesses, including competition from products developed by EFI's customers; challenge of managing asset levels, including inventory and variations in inventory levels; the uncertainty of continued success in technological advances; the challenges of obtaining timely, efficient and quality product manufacturing and supply of components; litigation involving intellectual property rights or other related matters; our ability to successfully integrate acquired businesses; the uncertainty regarding the amount and timing of future share repurchases by EFI and the origin of funds used for such repurchases; the market prices of EFI's common stock prior to, during and after the share repurchases; and any other risk factors that may be included from time to time in the Company's SEC reports.
The statements in this press release are made as of the date of this press release. EFI undertakes no obligation to update information contained in this press release. For further information regarding risks and uncertainties associated with EFI's businesses, please refer to the sections entitled "Risk Factors," "Factors That Could Adversely Affect Performance," and other similar sections in our SEC filings and reports, including, but not limited to, EFI's annual report on Form 10-K and its quarterly reports on Form 10-Q, copies of which may be obtained by contacting EFI's Investor Relations Department by phone at 650-357-3828 or by email at email@example.com or EFI's Investor Relations website at http://www.efi.com.
NOTE TO EDITORS: The EFI logo, Fiery, VUTEk and Jetrion are registered trademarks of Electronics For Imaging, Inc. in the U.S. and/or certain other countries. EFI, Monarch and Pace are trademarks of Electronics For Imaging, Inc. in the U.S. and/or certain other countries. All other terms and product names may be trademarks or registered trademarks of their respective owners, and are hereby acknowledged.
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SOURCE: Electronics For Imaging, Inc.
CONTACT: Vincent Pilette
Chief Financial Officer, EFI
Phone (603) 357-3500
Director Corporate Communications, EFI
Phone (603) 475-9244
Market Street Partners
Phone (415) 445-3235
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