EFI acquires Raster

EFI is purchasing the remaining interest it does not already own for approximately $3 million in net cash proceeds, as well as an additional cash earn out amount that is contingent upon achieving certain performance targets.

“The acquisition of Raster will allow us to expand our product line and offer a variety of price-point products, significantly increasing our addressable market,” said Fred Rosenzweig, president of EFI. “It will also allow us to further leverage our sales force and distribution channels, while solidifying our position as the leading provider of wide-format UV inkjet technology.”

“Being part of the EFI group will help us deliver the highest quality solutions and provide our customers with a portfolio of new, powerful products to assist in their success and profitability,” said Rak Kumar, president of Raster Printers.

EFI made an initial investment in Raster in late 2006. The acquisition is expected to be completed by December.

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