EFI Acquires CRC Information Systems
FREMONT, Calif., May 08, 2017 (GLOBE NEWSWIRE) -- 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.
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 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 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.
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