EFI Moves to Accelerate Growth in Latin America
Acquires Leading Regional Print ERP Software Provider Metrics Sistemas
FOSTER CITY, Calif., April 11, 2012 (GLOBE NEWSWIRE) -- Electronics For Imaging, Inc. (Nasdaq:EFII), a world leader in customer-focused digital printing innovation, today announced it has acquired privately-held Metrics Sistemas de Informacao ("Metrics"). Metrics is a leader in ERP (MIS) systems for the printing and packaging industries in Latin America.While financial terms of the transaction were not disclosed, the acquisition is not expected to be material to EFI's 2012 results.
"The addition of Metrics's high-caliber team and the extensive customer base they have built in South and Central America combined with EFI's software portfolio will allow us to provide a higher value proposition to customers, along with creating a platform for EFI to introduce our unique digital eco-system to the region," said Guy Gecht, CEO of EFI. "Latin America is a vibrant market with exciting growth opportunities for the entire EFI portfolio ranging from our Fiery® workflow, to our cloud and customer-hosted ERP software, all the way to our industrial inkjet production printers."
Metrics is based in Sao Paulo, Brazil. Over the past 14 years, the company has built a base of more than 250 customers in Brazil and Latin America. Metrics, under the leadership of Osmar Barbosa, co-founder and CEO of Metrics, will become part of EFI's software applications portfolio. EFI intends to integrate support and operation of Metrics into the existing Business Software organization, while continuing to enhance the product offerings.
"Metrics is excited to join the world-class team of EFI employees and become the centerpiece of EFI's strategic focus and investment in Latin America," said Barbosa, who is now general manager of EFI Business Software, Latin America. "Our customers will now have access to an extensive portfolio of industry-leading technology, with more options to grow their business, while continuing to receive the same high-level of support and attention they are accustomed to."
About EFI
EFI (www.efi.com) is a world leader in customer-focused digital printing innovation. EFI's award-winning solutions, integrated from creation to print, deliver increased performance, cost savings and productivity. EFI's robust product portfolio includes Fiery digital color print servers; VUTEk superwide digital inkjet printers, UV and solvent inks; Rastek UV wide-format inkjet printers; Jetrion industrial inkjet printing systems; print production workflow and management information software; and corporate printing solutions.
The Electronics For Imaging, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7332
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 EFI's goals regarding its customer offerings; growth opportunities for the entire EFI portfolio; introduction of our product portfolio in Latin America; EFI's integration of Metrics; 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 our OEM partners' products 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 components supplying; litigation involving intellectual property rights or other related matters; our ability to successfully integrate acquired businesses; 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 section entitled "Risk Factors" 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, 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 www.efi.com.
NOTE TO EDITORS: The EFI logo, Fiery, VUTEk, and Jetrion are registered trademarks of Electronics For Imaging, Inc. in the U.S. and/or certain other countries. EFI and Rastek are trademarks 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.
CONTACT: Vincent Pilette
Chief Financial Officer
EFI
650-357-3500
EFI Investor Relations:
JoAnn Horne
Market Street Partners
415-445-3235
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