EFI Acquired By Siris Capital Group Affiliate
Electronics For Imaging (EFI) has entered into a de- finitive 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 private equity firm focused on investing and driving value creation in technology companies that provide mission-critical solutions and are facing tech- nology 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 com- mon stock of EFI for $37.00 per share in cash.The pur- chase price represents an approximately 45 percent premium over EFI’s 90-day volume-weighted average price, ended on April 12, 2019. EFI may solicit alternative acquisition proposals from third parties during a “go-shop” period over the next 45 calendar days. EFI will have the right to termi- nate the agreement to enter into a superior proposal subject to the terms and conditions of the agreement. AICC Launches New Seminar To Improve Productivity AICC,The Independent Packaging Association, will host Total Productive Maintenance: RDC & FFG , June 12-13, at Fox Valley Technical College in Apple- ton,Wisconsin. This course will touch on many of the components of Total Productive Maintenance (TPM) for packaging manufacturers, with particular attention to Autono- mous Maintenance (AM). AM is a maintenance strat- egy wherein machine adjustments and minor mainte- nance is performed by operators who are deemed to have unique knowledge about the equipment. AICC Plans Midwest Spring Meeting AICC, The Independent Packaging Association, will host the 2019 Midwest (Region 6) Spring Meeting in conjunction with the Chicago TAPPI Trade Fair, Tues- day, May 7, at the Marriott Oak Brook Hotel in Oak Brook, Illinois. The meeting will feature keynote speaker, Gene Ma- rino, ExecutiveVice President,Rusken Packaging,who will discuss creating a road map for succession in con- verting companies.The program will reportedly help attendees minimize the chaos and align core values, address the tough issues and misalignments along the way and define your purpose and values.
4 April 29, 2019 Flexo Market News
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