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EFI Broadens Its Packaging Technology Portfolio With Acquisition Of Group Rhapso Printing And Packaging Software Solutions

Stocks in this article: EFII

FREMONT, Calif., April 14, 2014 (GLOBE NEWSWIRE) -- EFIā„¢ (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."

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