EFI to Acquire Jetrion
Foster City, CA-based EFI, a developer of solutions for digital controllers, print management, and wide-format inkjet printers has signed an agreement to acquire Jetrion LLC, a privately held subsidiary of Flint Group Inc., for approximately $40 million in cash. Jetrion, Ypsilanti, MI, develops inkjet printer, inks, and custom printing systems for the label and packaging industries. EFI expects the transaction to close in the fourth quarter of 2006, subject to certain closing conditions.
“Jetrion’s advanced technology and very talented team are great additions to our inkjet business and are a key elements in fulfilling out strategy to expend our presence in the industrial-inkjet market,” says EFI CEO Guy Gecht. “In addition, the Jetrion and VUTEk development capabilities complement each other quite nicely. Combining EFI’s leadership in precision color and intelligent, high-speed RIP technology with the market-leading innovation of the VUTEk and Jetrion product lines will give us multiple opportunities to share expertise, benefiting all of our products.”