EFI Buy Two Technology Companies in One Day For $188.4M

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EFI Buy Two Technology Companies in One Day For $188.4M

 news 2015-07-07 at 12:07:05 pm Views: 187
  • #42934

    EFI Buy Two Technology Companies in One Day For $188.4M
    EFI buys Matan and Reggiani
    By Wayne Robinson

    EFI is continuing its acquisition strategy, spending $188.4m buying two technology companies in one day, including the Matan roll-to-roll wide format printer manufacturer.

    The bulk of the investment has gone on Reggiani, an Italian-based manufacturer of industrial inkjet printers using water-based inks printing on fabric.

    EFI is aiming to become the number one player in the textile market, which it believes is set for massive growth. The products will be rebranded EFI Reggiani.

    Chief executive Guy Gecht says: "This acquisition gives EFI an immediate leadership position in one of the world's largest industries undergoing the transformation from analogue printing to digital.

    “The textile printing market is just beginning that transition, which will enable manufacturers to shift from long-run to on-demand manufacturing, responding to the increasing demands of short runs and customisations.”

    EFI reportedly paid $29m for Matan, a 70-employee business based in Israel, and also took on its $5m debt. It also put $14m into an Escrow account.

    EFI marketing vice president for inkjet Ken Hanulec says: “With these acquisitions we are excited to have an even broader portfolio of products to offer the Australian market to help with the ever growing transition from analogue to digital print.

    “Specific to the Matan acquisition, we now have the broadest production level roll-to-roll portfolio in the industry. Additionally, it immediately adds new products to grow our portfolio in lower and mid-markets.”

    EFI has traditionally operated at the high end of wide format print solutions with its Vutek brand. Through Matan, which will now be branded EFI Matan, it will now be able to bring its technology to a greater number of print businesses.

    Matan is also sold through OEM agreements, Fujifilm and its Uvistar system the best known in Australia. Sun says this agreement and all other distribution partnerships will continue.

    EFI wide format products in Australia are sold and serviced by DES.