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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Electronics For Imaging, Inc.    EFII

ELECTRONICS FOR IMAGING, INC.

(EFII)
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Electronics For Imaging : Siris Capital to buy Electronics For Imaging for $1.6 billion

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04/15/2019 | 08:53am EDT

(Reuters) - Digital printing company Electronics For Imaging Inc said on Monday private equity firm Siris Capital Group LLC would buy the company for about $1.6 billion (£1.2 billion) in cash.

The $37-per-share offer represents a premium of about 26 percent to the company's closing price on Friday.

The deal, which has been approved by Electronics For Imaging's (EFI) board, includes a 45-day "go-shop" period, which allows the company to consider alternative offers, it said.

Including debt, the deal is valued at about $1.7 billion.

In its latest reported quarter, EFI's revenue slid 5 percent on weakness in its key industrial inkjet business, which accounts for more than half of the company's overall revenue.

The deal is expected to close by the third quarter of 2019.

EFI also said it would file its first-quarter report but does not intend to host a quarterly earnings call. It expects first-quarter revenue to be between $220 million and $225 million.

Siris has secured committed debt financing for the deal from RBC Capital Markets, KKR Capital Markets LLC, Deutsche Bank Securities Inc, Barclays, Credit Suisse, and Macquarie Capital, EFI said in a statement.

Sidley Austin LLP is serving as corporate counsel, Kirkland & Ellis LLP as financing counsel, and RBC Capital Markets as M&A adviser to Siris.

Morgan Stanley and Greenhill are financial advisers to EFI, while O'Melveny & Myers is the legal counsel.

(Reporting by Akanksha Rana and Arjun Panchadar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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Financials (USD)
Sales 2019 997 M
EBIT 2019 91,9 M
Net income 2019 -13,3 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -168x
P/E ratio 2020 94,8x
Capi. / Sales2019 1,60x
Capi. / Sales2020 1,48x
Capitalization 1 595 M
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Technical analysis trends ELECTRONICS FOR IMAGING, I
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 9
Average target price 37,25  $
Last Close Price 36,97  $
Spread / Highest target 19,0%
Spread / Average Target 0,76%
Spread / Lowest Target -16,1%
EPS Revisions
Managers
NameTitle
William D. Muir Chief Executive Officer & Director
Gill Cogan Chairman
Marc D. Olin Chief Financial Officer
Ghilad Dziesietnik Chief Technology Officer
Jill Norris Chief Information Officer
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