FOSTER CITY, Calif., Feb. 17, 2011 (GLOBE NEWSWIRE) -- Electronics For Imaging, Inc. (Nasdaq:EFII), a world leader in customer-focused digital printing innovation, today announced that it has acquired Streamline Development, LLC ("Streamline"). Streamline is the provider of PrintStream ERP/MIS software focused on mailing and fulfillment services for the printing industry. Financial terms of the acquisition were not disclosed.
"We are very pleased to bring PrintStream into our growing customer community and combine our world-class offerings to the market," said Marc Olin, GM of EFI's Advanced Professional Print Software division ("APPS").
"EFI's goal is to better serve the industry by expanding our customer offerings and portfolio. We want to continue to offer our customers a complete product portfolio that seamlessly executes job creation to production, allowing them to be more efficient and effective, and ultimately, more profitable."
PrintStream software will become part of EFI's Advanced Professional Print Software portfolio. EFI intends to integrate key PrintStream features and technologies supporting mailing and fulfillment into its core ERP/MIS platforms, including EFI Pace, EFI Monarch and EFI Radius while continuing to support the existing PrintStream client base.
"The PrintStream team and I are very excited about joining EFI, the leader in ERP/MIS," added Laurence Snyder CEO of Streamline. "We look forward to sharing our expertise in the areas of mailing and fulfillment requirements to enhance EFI products."
Streamline is headquartered in San Rafael, CA. Streamline brings many years of experience developing and deploying applications developed specifically to manage the unique needs printing, direct mail and fulfillment organizations. Streamline's customers range from small direct mail and printing businesses through large multi-site enterprises involved in all aspects of printing, direct mail and fulfillment.
EFI () is a world leader in customer-focused digital printing innovation. EFI's award-winning solutions, integrated from creation to print, deliver increased performance, cost savings and productivity. The company's robust product portfolio includes Fiery digital color print servers; VUTEk superwide digital inkjet printers, UV and solvent inks; Rastek UV wide-format inkjet printers; Jetrion industrial inkjet printing systems; print production workflow and management information software; and corporate printing solutions.
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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 statements regarding EFI's goals to better serve the industry, its goals regarding its customer offerings and product portfolio, integration of PrintStream, 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, inaccurate data or assumptions; unforeseen expenses; the difficulty of aligning expense levels with revenue changes; execution of actions to reduce our operational costs and ability to maintain effective cost control measures; unexpected declines in revenues or increases in expenses; management's ability to forecast revenues, expenses and earnings, especially on a quarterly basis; the market prices of the Company's common stock; the uncertainty regarding the amount and timing of future share repurchases by the Company and the origin of funds used for such repurchases; any world-wide financial and economic difficulties and downturns, including contraction in credit markets, and adverse variations in foreign exchange rates, that could affect demand for our products, and increase the volatility of our profitability, as well as the risk of bank failures, insolvency or illiquidity of other financial institutions and other adverse conditions in financial markets that could cause a loss of our cash deposits and invested cash and cash equivalents; uncertainty to accurately predict the outcome of foreign tax audits and determine our tax provisions; uncertainty regarding our effective tax rate in the future that may be impacted by various factors, including but not limited to new U.S. tax legislative proposals; changes in, or the failure or inability to comply with U.S., foreign and local governmental regulations, including import/export regulations or duties; failure to retain key employees; product cancellation costs; a significant decline or delay in demand for our products by any of our important OEM partners; the unpredictability of development schedules and commercialization of the products manufactured and sold by our OEM partners; variations in growth rates or declines in the printing and imaging markets across various geographic regions; changes in historic customer order patterns, including changes in customer and channel inventory levels; changes in the mix of products sold leading to variations in operating results; the uncertainty of market acceptance of new product introductions; delays in product deliveries that cause quarterly revenues and income to fall significantly short of anticipated levels; competition and/or market factors, which may adversely affect margins; competition in each of our businesses, including competition from products internally developed by EFI's customers; challenge of managing assets levels, including inventory and variations in inventory valuation; intense competition in the industrial and commercial digital inkjet market; the uncertainty of continued success in technological advances, including development and implementation of new processes and strategic products; the challenges of obtaining timely, efficient and quality product manufacturing and components supplying; litigation involving intellectual property rights or other related matters; our ability to successfully integrate acquired businesses, without operational disruption to our existing businesses; the potential that investments in new business strategies and initiatives could disrupt the Company's ongoing businesses and may present risks not originally contemplated; the potential loss of sales, unexpected costs or adverse impact on relations with customers or suppliers as a result of acquisitions; differences between the financial results as filed with the Securities and Exchange Commission (the "SEC") and the preliminary results included in our earnings or other press releases due, among other things, to the complexity in accounting rules; 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 section entitled "Factors That Could Adversely Affect Performance" in the Company's SEC filings, including, but not limited to, its 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 firstname.lastname@example.org or EFI's Investor Relations website at .
NOTE TO EDITORS: The EFI logo, Fiery, VUTEk, and Jetrion are registered trademarks of Electronics For Imaging, Inc. in the U.S. and/or certain other countries. EFI, Pace and Rastek are trademarks of Electronics For Imaging, Inc. in the U.S. and/or certain other countries. All other terms and product names may be trademarks or registered trademarks of their respective owners, and are hereby acknowledged.
CONTACT: Vincent Pilette Chief Financial Officer EFI 650-357-3500 Holly O'Rourke Public Relations EFI 603.475.9244 Investor Relations: JoAnn Horne Market Street Partners 415-445-3235