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News Breaks
April 17, 2014
07:40 EDTEFIIElectronics for Imaging posted very solid Q1 results, says Brean Capital
Brean Capital said Electronics for Imaging posted very solid Q1 results and believes anticipated Inkjet product refreshes, continued Fiery OEM product cycle benefits, and upcoming trade shows will lead to strong second half operating leverage. Shares are Buy rated with a $60 price target.
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July 2, 2015
07:13 EDTEFIIBrean Capital continues to 'love' the set-up of Electronics for Imaging
Brean Capital said they continue to love the set-up of Electronics for Imaging, believing the company has a good chance to deliver better than expected earnings as it executes its acquisition strategy. Brean Capital reiterated its Buy rating and $60 price target on Electronics for Imaging shares.
July 1, 2015
16:09 EDTEFIIElectronics for Imaging acquires Matan Digital Printers for approximately $29M
Electronics For Imaging has acquired privately-held Matan Digital Printers, an award-winning provider of innovative technologies for superwide-format display graphics and other industrial printing applications. Matan's work force of approximately 70 employees has joined EFI, giving EFI a significant presence in Israel, a center for innovation in the printing industry. Yosefi has joined EFI as vice president and general manager, EFI Inkjet Israel. EFI's acquisition was an all-cash transaction in which EFI paid the shareholders of Matan approximately $29M to acquire all of Matan's outstanding shares. Under the purchase agreement, EFI also assumed approximately $5M of Matan's debt, and deposited $14M into escrow to serve as security for EFI's benefit for the indemnification obligations of the Matan shareholders. Subject to EFI's claims against the escrow, portions of the escrow may be released to the sellers in 2017 and 2022. The transaction is expected to be slightly accretive to FY 2015 earnings. The company will provide selected financial information about its anticipated Q3 results including the impact of this transaction during its regular Q2 earnings call scheduled for July 21.
June 23, 2015
09:45 EDTEFIIElectronics for Imaging initiated with a Buy at Longbow
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