Electronics For Imaging (EFI) has acquired privately held Matan Digital Printers, a provider of technologies for super-wide-format display graphics and other industrial printing applications. “This acquisition gives EFI an even broader range of products to help our customers capture important opportunities in super-wide-format display graphics printing,” said EFI CEO Guy Gecht. “Matan’s strong R&D capabilities will further accelerate EFI’s inkjet innovation, while filling a key spot in EFI’s portfolio for a lower-acquisition cost line of roll-to-roll production printers focused on signage, banners, billboards and fleet graphics.”
Based in Rosh Ha’Ayin, Israel with offices in the USA and Spain, Matan has developed digital printers and presses for a wide range of industrial applications for more than a decade. The company’s digital industrial inkjet printers are designed to offer high productivity, quality and durability, while ensuring a low cost of ownership. Matan’s focus on roll-to-roll workflow has resulted in “one of the industry’s strongest offerings of material-handling features, such as inline cutting and slitting.”
The acquisition was an all-cash transaction in which EFI paid the shareholders of Matan approximately $29 million to acquire all of the company’s outstanding shares. Under the purchase agreement, EFI also assumed approximately $5 million of Matan’s debt, and deposited $14 million into escrow to serve as security for EFI’s benefit for the indemnification obligations of the Matan shareholders.