Sappi North America today announced the North American Printer of the Year and 10 Gold Award winners for its 18th North American Printer of the Year contest. Regarded as the world's most respected accolade of excellence in printed communications, this award recognizes innovation and excellence in print across 10 categories for work produced on Sappi papers. These winners were chosen as the most outstanding print submissions from over 1,500 entries this year. "The way people communicate is continually evolving, and printers everywhere are reflecting that in the increasingly creative methods they use to inspire and engage people," said Patti Groh, Director of Marketing Communications, Sappi North America. "With our Printer of the Year competition, Sappi recognizes the most brilliant and visionary ideas shaping the future of our industry year after year."
Electronics For Imaging, Inc. (Nasdaq: EFII), a world leader in customer focused digital printing innovation, today announced that it has entered into a definitive agreement (the “Agreement”) to be acquired by an affiliate of Siris Capital Group, LLC (“Siris”) in an all-cash transaction valued at approximately $1.7 billion. Siris is a leading private equity firm focused on investing and driving value creation in technology companies that provide mission-critical solutions and are facing technology transitions.
Under the terms of the Agreement, which has been unanimously approved by EFI’s Board of Directors, an affiliate of Siris will acquire all the outstanding common stock of EFI for $37.00 per share in cash. The purchase price represents an approximately 45% premium over EFI’s 90-day volume-weighted average price ended on April 12, 2019.
EFI may solicit alternative acquisition proposals from third parties during a “go-shop” period over the next 45 calendar days. EFI will have the right to terminate the Agreement to enter into a superior proposal subject to the terms and conditions of the Agreement. There is no guarantee that this process will result in a superior proposal, and the Agreement provides Siris with a customary right to attempt to match a superior proposal. EFI does not intend to disclose developments with respect to the solicitation process unless and until it determines such disclosure is appropriate or is otherwise required.
“We believe this transaction delivers superior and immediate value to our shareholders while providing us with a partner that can add strategic and operational expertise to our business,” said Bill Muir, Chief Executive Officer of EFI. “We are excited to partner with Siris’ highly experienced team on this next phase of growth for EFI.”
more detail at: http://ir.efi.com/news-releases/news-release-details/efi-announces-definitive-agreement-be-acquired-affiliate-siris