Electronics For Imaging Acquires Pace Systems Group
The acquisition of Pace Systems enables EFI to more cost effectively serve the inkjet and other markets.
Pace Systems Group provides practical print, MIS and e-commerce solutions that make printing and graphic art companies more efficient and profitable.
Electronics for Imaging is the world leader in customer-focused digital printing innovation.
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PRESS RELEASE OVERVIEW
Software Equity Group's Client, Pace Systems Group, Acquired by EFI
San Diego, CA, –Software Equity Group (SEG) client, Pace Systems Group, has been acquired by Electronics For Imaging (EFI), the world leader in customer-focused digital printing innovation for approximately $21 million in cash plus an additional cash earn out amount which is contingent upon achieving certain performance targets. Pace Systems Group is a print management software company providing practical print, MIS and e-commerce solutions that make printing and graphic art companies more efficient and profitable. EFI expects the acquisition will be neutral to earnings in Q3 and slightly accretive in Q4.
“Pace Systems Group has been a successful independent company for more than 30 years, and now the time is right to take our products and our customers to the next level by becoming part of EFI,” said Jay Farr, CEO of Pace Systems Group. “We are excited to join EFI’s print management line-up and to be able to leverage EFI’s integration expertise, worldwide reputation and financial strength to provide our valued customers with an even higher quality of service.”
“Jay Farr and Gary Foster built a great company and their technology will be a terrific complement to our own efforts, allowing us to meet our goal of a more efficient development process much sooner than anticipated,” said Guy Gecht, CEO of EFI. “The combination of the Pace platform and our technology will help our customers capture growth and efficiency in the current challenging environment, and at the same time will bring a unique and powerful value-add application to our inkjet and Fiery customers. We look for the products developed using Pace Systems core technology to allow us to more cost effectively serve these markets.”