Electronics For Imaging, Inc. (Nasdaq:EFII) announced today the acquisition of Shuttleworth Business Systems Ltd. (Shuttleworth), a privately held print software provider headquartered in Kettering, UK.
While financial terms of the acquisition were not disclosed, it is not expected to be material to EFI's Q4 or full year 2015 results.
EFI™ is the global market leader of innovative end-to-end certified business and production workflow software to the commercial print, publishing, and packaging industries. The addition of Shuttleworth will further extend EFI's leadership in the UK market.
"We are excited to welcome Shuttleworth customers and employees into the EFI family," said Gabriel Matsliach, Senior Vice President and General Manager, EFI Productivity Software. "We intend to continue to meet and exceed the needs of Shuttleworth's existing client base with the same enthusiasm that Shuttleworth has for the many years they've been in business, while offering those customers access to the full portfolio of EFI products and enabling them to implement complete, end-to-end, business and production workflows that drive efficiency and profitability."
"We are very excited to join the EFI family and are confident in the additional value they can bring to our customers," said Andy King, Joint Managing Director, Shuttleworth. "EFI has the technology, skill and reach that will enable Shuttleworth customers continued growth and success for years to come."
Safe Harbour 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 results, expansion of our product portfolio, our future product offerings to Shuttleworth customers, integration of Shuttleworth, future customer achievements, continuation of support to the existing Shuttleworth client base, the timing of payments to the former Shuttleworth shareholders, 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; any disruptions in our operations, the difficulty to retain employees; the compliance with the new requirements regarding the "conflict minerals," if they are found to be used in our products, 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 investor.relations@efi.com or EFI's Investor Relations website at http://www.efi.com.
While financial terms of the acquisition were not disclosed, it is not expected to be material to EFI's Q4 or full year 2015 results.
EFI™ is the global market leader of innovative end-to-end certified business and production workflow software to the commercial print, publishing, and packaging industries. The addition of Shuttleworth will further extend EFI's leadership in the UK market.
"We are excited to welcome Shuttleworth customers and employees into the EFI family," said Gabriel Matsliach, Senior Vice President and General Manager, EFI Productivity Software. "We intend to continue to meet and exceed the needs of Shuttleworth's existing client base with the same enthusiasm that Shuttleworth has for the many years they've been in business, while offering those customers access to the full portfolio of EFI products and enabling them to implement complete, end-to-end, business and production workflows that drive efficiency and profitability."
"We are very excited to join the EFI family and are confident in the additional value they can bring to our customers," said Andy King, Joint Managing Director, Shuttleworth. "EFI has the technology, skill and reach that will enable Shuttleworth customers continued growth and success for years to come."
Safe Harbour 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 results, expansion of our product portfolio, our future product offerings to Shuttleworth customers, integration of Shuttleworth, future customer achievements, continuation of support to the existing Shuttleworth client base, the timing of payments to the former Shuttleworth shareholders, 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; any disruptions in our operations, the difficulty to retain employees; the compliance with the new requirements regarding the "conflict minerals," if they are found to be used in our products, 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 investor.relations@efi.com or EFI's Investor Relations website at http://www.efi.com.
