EFI to Acquire Radius Solutions
N.B. French, German, Spanish and Italian versions of this release to follow shortly
While the terms of the acquisition were not disclosed, the cash transaction is expected to be slightly accretive to full year 2010 results. The transaction is subject to various closing conditions.
"We are very pleased to add Radius to our growing portfolio of industryleading software solutions targeted to the print industry," said Marc Olin, Sr. VP/GM APPS of EFI. "EFI's goal is to offer our customers a complete product portfolio that assists them from job creation to production, while allowing them to be more efficient and effective, and ultimately, more profitable. Radius allows us to bring this concept to the packaging market, which is one of the largest segments of the print market and an area of strategic focus for EFI, joining our Pace and Monarch MIS systems which are targeted to the display graphics and commercial print markets."
Radius Solutions will become part of the Advanced Professional Print Software (APPS) division of EFI. EFI intends to integrate a number of its award winning products including Fiery, VUTEk, Jetrion, Digital StoreFront, PrintFlow and Auto-Count, with the Radius product line. The Radius acquisition further strengthens EFI's growing product portfolio of software tools, UV Inkjet digital presses and inks, and MIS solutions for the packaging market, which is one of the largest printing markets in the world.
Radius Solutions is headquartered in Chicago, Illinois with direct operations in the United States and Europe. Radius brings many years of experience developing and deploying applications developed specifically to manage the unique needs of packaging and printing organizations. Radius has established itself as a leading provider of management information systems specifically designed to help flexible packaging, folding carton and label printers manage their operations.
"We are very excited to have Radius Solutions join the EFI family," said David Taylor, President and CEO of Radius Solutions. "Our ERP packaging software fits strategically within EFI's solutions portfolio. Our clients will gain a supplier with a global footprint and the additional resources of a tier one organization. I look forward to managing the Radius product line within their world class organisation."
EFI, Fiery, VUTEk, Jetrion, PrintFlow, Auto-Count, ColorWise and Colorproof are registered trademarks of Electronics For Imaging, Inc. in the U.S. and other countries. All other trademarks mentioned in this document are the property of their respective owners.
Nothing herein should be construed as a warranty in addition to the express warranty statements provided with EFI products and services. This news release contains forwardlooking statements, that are statements other than statements of historical fact including words such as "anticipate", "believe", "estimate", "expect", "consider", "plan" and similar, any statements related to strategies or objectives of management for future operations, products, development, performance, any statements of assumptions or underlying any of the foregoing and any statements in the future tense. Forwardlooking statements are subject to certain risks and uncertainties that could cause our actual or future results to differ materially. For further information regarding risks and uncertainties associated with EFI's businesses, please refer to the risk factors section in the Company's SEC filings, including, but not limited to, its annual report on Form 10-K and its quarterly reports on Form 10-Q. EFI undertakes no obligation to update information contained herein, including forwardlooking statements.
EFI(TM) (Nasdaq: EFII), is a world leader in customerfocused digital printing innovation. EFI's awardwinning solutions, integrated from creation to print, deliver increased performance, cost savings and productivity. The company's robust product portfolio includes Fiery® digital print controllers and solutions; VUTEk® superwide digital inkjet printers, UV and solvent inks; Rastek(TM) UV wideformat inkjet printers; Jetrion® industrial inkjet printing systems; print production workflow and management information software; and corporate printing solutions. EFI maintains 23 offices worldwide.