EFI Completes Acquisition of Jetrion LLC7 Nov, 2006
EFI Completes Acquisition of Jetrion LLC
Foster City, CA – EFI, a world leader in color digital print servers, superwide format inkjet printers and inks, and print management solutions, today announced it has completed its acquisition of Jetrion LLC, a subsidiary of Flint Group Incorporated, for approximately $40 million in cash. The acquisition is an all cash transaction. Jetrion is a leading innovator of inkjet printers, inks and custom printing systems for the label and packaging industries.
The acquisition is expected to add between $3 million and $5 million in revenues to EFI’s fourth quarter results with an immaterial impact on pro forma earnings. For the full year 2006, Jetrion is expected to post revenues of approximately $16 million to $18 million. The Jetrion products are currently anticipated to show top line growth of 30-40 percent in 2007 and again have an immaterial impact to pro forma earnings as EFI makes investments to expand the Jetrion product line and distribution.