FREMONT, Calif., Oct. 02, 2017 (GLOBE NEWSWIRE) -- Electronics For Imaging, Inc. (Nasdaq:EFII) announced today the acquisition of Escada Systems (Escada), a leading provider of Corrugator Control systems for the packaging market. Based in the United Kingdom and with operations also in the United States, privately held Escada brings a strong reputation for innovation and vast experience in helping packaging companies to achieve greater productivity, quality and profitability.
EFI is a market leader in providing a complete ecosystem for corrugated production, that includes the EFI Nozomi C18000, an ultra-high-speed single-pass LED inkjet press powered by the award winning Fiery DFE together with leading edge inks, and the EFI Corrugated Packaging Productivity Suite, the market’s first end-to-end software offering for business management and manufacturing execution, which is gaining global momentum, serving corrugated packaging companies around the globe. The addition of Escada’s technology and expertise will enable EFI to expand the Productivity Suite’s value to sheet feeders and full corrugated box plants, to also include comprehensive control and traceability for the entire corrugation process.
“We are thrilled to add the Escada team and technology to our leading portfolio for the Packaging industry,” said Gabriel Matsliach, senior vice president and general manager, EFI Productivity Software. “The addition of Escada makes EFI a one stop shop for enabling packaging companies to improve the quality, efficiency and profitability of the corrugation process, using their existing corrugators.”
While financial terms of the acquisition were not disclosed, it is not expected to be material to EFI’s Q4 or full year 2017 results. Escada employees, including founder and former principal Gavin Bushby, have joined EFI’s Productivity Software business unit.
“We are very excited to join the EFI family and to play a role in EFI’s strategy for the packaging industry,” said Gavin Bushby, Chairman of Escada. “EFI global scale and reach will enable more customers to benefit from our innovative technologies for years to come. I look forward to being an active member of this world-class organization and to help them innovate to advance both traditional and digital on-demand technologies and help our industry and customers to grow and prosper.”
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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This news release contains forward-looking statements, that are statements other than statements of historical fact including words such as “anticipate”, “believe”, “estimate”, “expect”, “consider”, “plan” and similar, any statements related to strategies or objectives of management for future operations, products, development, performance, any statements of assumptions or underlying any of the foregoing and any statements in the future tense. Forward-looking statements are subject to certain risks and uncertainties that could cause our actual or future results to differ materially. For further information regarding risks and uncertainties associated with EFI’s businesses, please refer to the risk factors section in the Company’s SEC filings, including, but not limited to, its annual report on Form 10-K and its quarterly reports on Form 10-Q. EFI undertakes no obligation to update information contained herein, including forward-looking statements.
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Source:Electronics For Imaging, Inc.