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O’Melveny Represents Electronics For Imaging in Closing of US$1.7 Billion Acquisition by Siris Affiliate

7월 25, 2019

FOR IMMEDIATE RELEASE

SILICON VALLEY—July 25, 2019—O’Melveny represented Electronics for Imaging (EFI), a leader in digital printing innovation, in the closing of its previously announced acquisition by an affiliate of Siris Capital Group, LLC, for US$1.7 billion.

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 percent premium over EFI’s 90-day volume-weighted average price ended on April 12, 2019.

In connection with the closing of the transaction, the Company, which will continue to operate as Electronics For Imaging (EFI), will be wholly owned by an affiliate of Siris, and EFI’s common shares will be delisted from the NASDAQ exchange. Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions.

The O’Melveny team was led by partners Brophy Christensen, Warren Lazarow, and Eric Zabinski, and counsel Noah Kornblith.

Also advising on the deal were O’Melveny associates Bhavreet Gill, Elaine Sun, Ashleigh Ruggles, John Chong, and Carolyn White.  Partner Jeff Walbridge, senior counsel Warren Fox, and Rebecca Cottrell advised on executive compensation; partner Jennifer Taylor on finance; partner Eric Amdursky on employment; partner Andy Dolak and counsel Tom Oslovar on IP; partner Robert Fisher and counsel Billy Abbott on tax; partner Courtney Dyer, counsel Courtney Byrd, and counsel Philippe Nogues on antitrust; and senior counsel Scott Widen on M&A.

About O’Melveny

It’s more than what you do: it’s how you do it. Across sectors and borders, in boardrooms and courtrooms, we measure our success by yours. And in our interactions, we commit to making your O’Melveny experience as satisfying as the outcomes we help you achieve. Our greatest accomplishment is ensuring that you never have to choose between premier lawyering and exceptional service. So, tell us. What do you want to achieve? Visit us at omm.com.

Contact:

Christopher Rieck
O’Melveny & Myers LLP
+1 212 326 2218
crieck@omm.com

The following release was issued by the client:

Electronics For Imaging Announces Completion of Acquisition by an Affiliate of Siris Capital Group, LLC

FREMONT, Calif., July 23, 2019 (GLOBE NEWSWIRE) -- Electronics For Imaging, Inc. (“EFI” or the “Company”), today announced the completion of its previously announced acquisition by an affiliate of Siris for approximately $1.7 billion.

In connection with the closing of the transaction, the Company, which will continue to operate as Electronics For Imaging (EFI), will be wholly owned by an affiliate of Siris, and EFI’s common shares will be delisted from the NASDAQ exchange.

“This acquisition marks a new, exciting path forward in EFI’s 30-year history as a digital imaging technology leader,” said EFI CEO, Bill Muir. “With Siris’ partnership, we will look to create new opportunities for our customers, partners, and EFI employees worldwide. We are looking forward to working with Siris to write the next chapter of innovation across our growing portfolio of solutions.”

Jeff Jacobson, Siris Executive Partner and EFI Executive Chairman, added, “EFI’s portfolio of best-in-class solutions presents an exciting opportunity to drive further growth in high-quality inkjet and integrated, digital workflows. I look forward to working closely with management and know Siris is committed to providing the guidance and support needed to help EFI continue accelerating the transformation of industries where colorful images matter.”

The transaction, which was initially announced on April 15, 2019, was approved in a shareholder vote on July 15, 2019 in which 72.2% of EFI’s outstanding shares and 99.7% of voted shares were voted in favor of the transaction.

About EFI (www.efi.com)
EFI™ is a global technology company, based in Silicon Valley, and is leading the worldwide transformation from analog to digital imaging. We are passionate about fueling customer success with products that increase competitiveness and boost productivity. To do that, we develop breakthrough technologies for the manufacturing of signage, packaging, textiles, ceramic tiles, and personalized documents, with a wide range of printers, inks, digital front ends, and a comprehensive business and production workflow suite that transforms and streamlines the entire production process.

About Siris
Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners are integral to its approach. Siris’ Executive Partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value.  Siris is based in New York and Silicon Valley and has raised nearly $6 billion in cumulative capital commitments.  www.siris.com

EFI Contact
Vicki Sam
Chief of Staff
6750 Dumbarton Circle
Fremont, Ca 94555
1-650-357-3985
vicki.sam@efi.com

Siris Contacts
Dana Gorman
Managing Director, Abernathy MacGregor
1-212-371-5999
dtg@abmac.com 

Blair Hennessy
Senior Vice President, Abernathy MacGregor
1-212-371-5999
bth@abmac.com