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Announces definitive agreement with an Affiliate of Siris Capital Group, LLC

EFI has confirmed that it has entered into a definitive agreement to be acquired by an affiliate of Siris Capital Group, LLC in an all-cash transaction valued at approximately $1.7b. Siris is a leading private equity firm focused on investing and driving value creation in technology companies.

Under the terms of the Agreement, which has been approved by EFI's Board of Directors, an affiliate of Siris will acquire all the outstanding common stock of EFI for $37.00 per share in cash. The purchase price represents an approximately 45% premium over EFI's 90-day volume-weighted average price ended on 12 April, 2019.

"We believe this transaction delivers immediate value to our shareholders while providing us with a partner that can add strategic and operational expertise to our business," said Bill Muir, Chief Executive Officer of EFI. "We are excited to partner with Siris' highly experienced team on this next phase of growth for EFI."

Commenting on the transaction, Frank Baker, a Siris Co-Founder and Managing Partner, said, "We believe that by partnering with Siris, EFI will be well positioned to capture this transformational opportunity associated with increased digital inkjet penetration, industrial automation and software enablement."