FREMONT, Calif., April 14, 2014 (GLOBE NEWSWIRE) -- EFI™ (Nasdaq:EFII) today announced that it has acquired Group Rhapso S.A. ("Rhapso"), a printing and packaging software solutions developer based in Les Ulis, France.
While financial terms of the acquisition were not disclosed, it is not expected to be material to EFI's Q2 or full-year 2014 results. Rhapso's employees have joined EFI and will be integrated into EFI's European operations. The new acquisition will further strengthen EFI's ERP leadership position in Europe.
"Rhapso gives EFI the opportunity to further extend our leading-edge capabilities in the packaging market," said Marc Olin, EFI's chief operating officer. "This is a strong and complementary addition to our growing portfolio of MIS/ERP solutions. We are very pleased to welcome our new colleagues to EFI.
"With our strong presence in Europe, the acquisition of Rhapso now extends our scope of offering into the corrugated market sector as a new growth opportunity and builds upon our strong existing presence in the MIS and scheduling area. We welcome the addition of over 500 customers to our existing customer base, which will further establish EFI as the clear leader of MIS and ERP related solutions in Europe and reassert our commitment to the region and to local markets. We believe this is a critical and strategic part of our focused growth strategy," he added.
EFI has continued to invest heavily in the Productivity Software product line, and with this most recent acquisition, is determined to enhance its position as the market leader in end-to-end workflow automation. The EFI commitment to continue its aggressive growth in the EMEA area continues to reinforce the company's existing strategy toward a truly global organization dedicated to the best-in-class products, services and people available.
"EFI continues to prove it is a world-class provider when it comes to helping companies improve their management operations and grow profitably," said Rainer Neugebauer, former Rhapso managing director and now EFI's director, Corrugated Products. "We are excited to give our customers access to technology from the industry's leading developer of MIS and ERP software."
In addition to offices in France, Rhapso has an office in Nürnberg, Germany. For additional information about EFI Productivity Software, visit www.efi.com.
About EFI
EFI (www.efi.com) is a worldwide provider of products, technology and services leading the transformation of analog to digital imaging. Based in Silicon Valley, with offices around the globe, the company's powerful integrated product portfolio includes digital front-end servers; superwide, wide-format, label and ceramic inkjet presses and inks; production workflow, web to print, and business automation software; and office, enterprise and mobile cloud solutions. These products allow users to produce, communicate and share information in an easy and effective way, and enable businesses to increase their profits, productivity, and efficiency.
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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 Q1 2014 and full year 2014 results, expansion of our product portfolio, our future product offerings to Rhapso customers, integration of Rhapso, continuation of support to the existing Rhapso client base, 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, and additional expenses that we may incur as a result of our relocation from the Foster City campus; 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 date 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 investor.relations@efi.com or EFI's Investor Relations website at http://www.efi.com.
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