EFI Acquires Polymeric Imaging's Thermoforming Ink Technology
Based in North Kansas City, Mo., Polymeric Imaging has extensive R&D experience in the development of inkjet inks that address important curing, adhesion, density and durability issues that industrial and graphic arts print professionals encounter when printing on challenging substrates. EFI will use the acquired technology to enhance its customers' inkjet production capabilities for thermoforming and other high-elongation applications requiring exceptional ink durability and flexibility.
Financial terms of the acquisition were not disclosed, but the deal is not expected to be material to EFI's Q4 or full-year 2014 financial results.
"This acquisition continues EFI's momentum in inkjet graphics printing following a highly successful SGIA Expo highlighting our leading portfolio of UV and LED inkjet technologies," said Stephen Emery, vice president of EFI's ink business. "The technology we are acquiring will allow EFI to continue expanding our efficient, high-quality inkjet platforms into new markets."
"As a world leader in UV inkjet manufacturing, EFI has long set a standard for excellence and innovation in digital printing," said Polymeric Imaging founder and owner Don Sloan. "This deal provides significantly greater scale and reach for the development and commercialization of some of the key R&D breakthroughs we have made with inkjet ink."
In addition to buying technology from Polymeric Imaging, EFI has hired key Polymeric Imaging employees responsible for technical and market development of digital ink and coating products. Those employees are currently assisting EFI's ink operations in the development and testing of new formulations for use in EFI inkjet products.
For additional information about EFI, visit www.efi.com
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 Q4 2014 and full year 2014 results, expansion of our product portfolio, our future product offerings to Polymeric Imaging customers, integration of Polymeric Imaging's assets, continuation of support to the existing Polymeric Imaging client base, 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, and additional expenses that we may incur as a result of our relocation from the Foster City campus; the compliance with the requirements regarding "conflict minerals," and any other risk factors that may be included from time to time in the Company's SEC reports.
EFI™ (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.
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