EFI Acquires Cretaprint, Announces Strong 4Q 2011 Preliminary Results

Electronics For Imaging, Inc. (EFI) announced that it has acquired privately-held Cretaprint S.L., for approximately $31 million and an earn-out of up to $21 million based on growth targets for 2012 and 2013. Cretaprint, with headquarters in Castellón, Spain, is a leading developer and supplier of inkjet printers for ceramic tiles.

“As evidenced by our record revenues, we are benefitting from strong traction in our industrial inkjet segment and are excited about expanding into the ceramic tile market, which represents a tremendous growth opportunity for EFI,” said Guy Gecht, CEO of EFI. “We have been tracking the swift transformation from analog to digital technology in tile imaging for quite some time, and have been deeply impressed with the fast growth and global leadership position of Cretaprint.”

“We are extremely excited to join EFI and look forward to leveraging EFI’s Silicon Valley high-tech DNA, inkjet expertise, workflow and color management,” said Victor Blasco, CEO of Cretaprint. “EFI’s global presence will accelerate the adoption of our digital technology across the globe and especially in emerging markets.”

Separately, the company announced preliminary results for the fourth quarter of 2011, ended Dec. 31. For the fourth quarter the company expects record revenues of approximately $163 million, compared to $145 million in the fourth quarter of 2010, marking EFI’s eighth consecutive quarter of double-digit growth.