EFI Acquires CRC Information Systems
May 08 2017 - 4:01PM
Electronics For Imaging, Inc. (Nasdaq:EFII) today announced that it
has acquired privately held CRC Information Systems (“CRC”), a
Reynolds and Reynolds company. Reynolds and Reynolds is
headquartered in Dayton, Ohio. CRC, which is based in Scottsdale,
Ariz., is a provider of business management information systems
(MIS) for commercial printers and packaging label and forms
printers throughout the United States and Canada.
While financial terms of the acquisition were not disclosed, it
is not expected to be material to EFI's Q2 or full year 2017
results.
“We are excited to welcome CRC customers and employees into the
EFI family,” said Jeff White, general manager, SMB Segment, in the
EFI Productivity Software business unit. “We intend to continue to
meet the needs of CRC’s existing client base with the same
enthusiasm they have come to expect over their years in business,
while offering those customers access to the full EFI
portfolio.”
"We are very excited to join the EFI family and are confident in
the additional value they can bring to our customers," said Erv
Ratazak, manager, Product and Services, CRC Information
Systems.
For more information, visit http: www.efi.com.
About EFI EFI™ is a global technology company,
based in Silicon Valley, and is leading the worldwide
transformation from analog to digital imaging. We are passionate
about fueling customer success with products that increase
competitiveness and boost productivity. To do that, we develop
breakthrough technologies for the manufacturing of signage,
packaging, textiles, ceramic tiles, and personalized documents,
with a wide range of printers, inks, digital front ends, and a
comprehensive business and production workflow suite that
transforms and streamlines the entire production process.
(www.efi.com)
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Safe Harbor for Forward Looking StatementsCertain 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
results, expansion of our product portfolio, our future product
offerings to CRC customers, integration of CRC, future
customer achievements, continuation of support to the existing
CRC client base, the timing of payments to the former CRC
shareholders, 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; the compliance with the
new requirements regarding the "conflict minerals," if they
are found to be used in our products, and any other risk
factors that may be included from time to time in the Company's SEC
reports.
The statements in this press release are made as of the date of
this press release. EFI undertakes no obligation to update
information contained in this press release. For further
information regarding risks and uncertainties associated with EFI's
businesses, please refer to the sections entitled "Risk Factors,"
"Factors That Could Adversely Affect Performance," and other
similar sections in our SEC filings and reports, including, but not
limited to, EFI's annual report on Form 10-K and its quarterly
reports on Form 10-Q, copies of which may be obtained by contacting
EFI's Investor Relations Department by phone at 650-357-3828 or by
email at investor.relations@efi.com or EFI's Investor Relations
website at http://www.efi.com.
NOTE TO EDITORS: The EFI logo is a
registered trademark of Electronics For Imaging, Inc. in the U.S.
and/or certain other countries. EFI is a trademark of
Electronics For Imaging, Inc. in the U.S. and/or certain other
countries. All other terms and product names may be trademarks or
registered trademarks of their respective owners, and are hereby
acknowledged.
Nothing herein should be construed as a warranty in addition to
the express warranty statements provided with EFI products and
services.
CONTACT:
David Lindsay
Public Relations Manager
Phone (404) 931-7760
david.lindsay@efi.com
JoAnn Horne
Investor Relations
Market Street Partners
Phone (415) 445-3235
ir_efi@efi.com
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