EFI Acquires BDR Boya Kimya
3 May 2019
FREMONT, Calif., May 02, 2019 (GLOBE NEWSWIRE) -- Electronics For Imaging, Inc. (Nasdaq:EFII) today announced that it has acquired privately held BDR Boya Kimya San. Tic. A.S. Based in Bursa, Turkey, BDR is a leading manufacturer of reactive inkjet inks for industrial digital textile printing.
BDR is being integrated into EFI™ Reggiani, a global leader in textile printer technology, and it will continue to develop inks, working closely with and supporting its clients while expanding and growing its capabilities. BDR’s employees are joining EFI, working from their current sites in Turkey. While financial terms of the acquisition were not disclosed, they are not expected to be material to EFI's Q2 or full-year 2019 results.
“We are excited to have the BDR team on board and to fully support their industry-leading customers,” said EFI Reggiani Vice President and General Manager Adele Genoni. “The synergies arising with BDR and the world-class portfolio of EFI Reggiani textile printers will be a key point of emphasis for us to continue providing high-quality products and innovation. EFI Reggiani is also significantly strengthening its presence in Turkey with this acquisition, which brings us to the heart of an important and growing textile hub.”
Founded in 2016, BDR has experienced remarkable growth since its launch in the market. The company services many of the world’s top textile and apparel manufacturers, delivering trusted products that drive greater cost-efficiency and quality in digital printing. Thanks to its strong commercial capabilities, BDR has built a significant presence in Turkey and Pakistan and, increasingly, across Europe, the Middle East and India as well.
“BDR has always been very focused on the growing worldwide opportunity with digital to increase sustainability in the textile industry using high-performance and quality inks,” said Serra Saatçıoğlu Yildiz and Ibrahim Demir, BDR’s co-founders. “EFI’s global, best-in-class Reggiani portfolio fits exactly with our own key goals for innovation and growth. We are excited to be joining EFI to work together on advancing the industry’s analog-to-digital printing transformation.”
EFI Reggiani is a leading, state-of-art technology provider with an extensive line up of industrial textile inkjet printers utilizing water-based inks. It is part of a complete EFI ecosystem of advanced products for textile design and production, including EFI Fiery® proServer digital front ends and Fiery DesignPro software, and the EFI Optitex® 2D and 3D integrated platform for product development and design. For more information on EFI products for industrial textile design and manufacturing, visit 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. (www.efi.com)
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Safe Harbor for Forward Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release that could be deemed forward-looking statements include, but are not necessarily limited to, statements regarding the impact of the acquisition on EFI's results, expansion of our product portfolio, our future product offerings to BDR customers, integration of BDR, future customer achievements, continuation of support to the existing BDR client base, the timing of payments to the former BDR shareholders, and any statements or assumptions underlying any of the foregoing.
Forward-looking statements are subject to certain risks and uncertainties that could cause our actual future results to differ materially, or cause a material adverse impact on our results. Potential risks and uncertainties include, but are not necessarily limited to, unforeseen expenses; the difficulty of aligning expense levels with revenue; management's ability to forecast revenues, expenses and earnings; any world-wide financial and economic difficulties and downturns; adverse tax-related matters such as tax audits, changes in our effective tax rate or new tax legislative proposals; the unpredictability of development schedules and commercialization of products by the leading printer manufacturers and declines or delays in demand for our related products; changes in the mix of products sold; the uncertainty of market acceptance of new product introductions; intense competition in each of our businesses, including competition from products developed by EFI’s customers; challenge of managing asset levels, including inventory and variations in inventory levels; the uncertainty of continued success in technological advances; the challenges of obtaining timely, efficient and quality product manufacturing and supply of components; litigation involving intellectual property rights or other related matters; our ability to successfully integrate acquired businesses; the uncertainty regarding the amount and timing of future share repurchases by EFI and the origin of funds used for such repurchases; the market prices of EFI’s common stock prior to, during and after the share repurchases; any disruptions in our operations, the difficulty to retain employees; the compliance with the new requirements regarding the "conflict minerals," if they are found to be used in our products, and any other risk factors that may be included from time to time in the Company's SEC reports.
The statements in this press release are made as of the datoke of this press release. EFI undertakes no obligation to update information contained in this press release. For further information regarding risks and uncertainties associated with EFI's businesses, please refer to the sections entitled "Risk Factors," "Factors That Could Adversely Affect Performance," and other similar sections in our SEC filings and reports, including, but not limited to, EFI's annual report on Form 10-K and its quarterly reports on Form 10-Q, copies of which may be obtained by contacting EFI's Investor Relations Department by phone at 650-357-3828 or by email at email@example.com or EFI's Investor Relations website at http://www.efi.com.
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Nothing herein should be construed as a warranty in addition to the express warranty statements provided with EFI products and services.
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