Acquisition for EFII.
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Electronics For Imaging to buy Splash Technology
NEW YORK, Aug 31 (Reuters) - Seeking to dominate the color imaging market, Electronics For Imaging, Inc. (NASDAQ: EFII), a maker of printer connectivity software, said on Thursday it has agreed to acquire Splash Technology, Inc.(NASDAQ: SPLH), a supplier of color servers.
Foster City, Calif.-based Electronics For Imagining (EFI) said it will pay Splash stockholders $10 per share in a cash tender offer, effectively valuing the transaction at $146 million.
Separately, Sunnyvale, Calif.-based Splash said that it expects sales for the current third quarter in the range of $7-11 million, and that its revised revenue growth outlook for the full year 2000 is expected to be flat.
Splash cited inventory levels at one of its key channel partners and the delay of a new product line for the flat outlook.
Shares of Splash were up $1-3/16 at $8-1/4 in Nasdaq trading on Thursday, while shares of EFI were up 11/16 at $29-3/4.>>
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