EFI Makes Bid for Printcafe: Marc Olin Moves to Chairman of the Board
Friday, January 24, 2003
PITTSBURGH, Jan. 23 -- Printcafe Software, Inc. announced today that its Board of Directors has appointed a special committee of the Board to consider its strategic alternatives, including offers for the acquisition of the Company. Additionally, Printcafe announced receipt of an unsolicited offer from Electronics for Imaging, Inc. (EFI) to acquire all the issued and outstanding shares of Printcafe's common stock for $2.60 per share. The offer is non-binding and is subject to, among other things, negotiation of a definitive agreement and required stockholder approval. The special committee of the Board, which consists entirely of independent directors, will evaluate and fully consider the offer from EFI, along with an offer previously received from Creo Inc. valued at $1.30 per share. Creo has announced that it has entered into agreements to increase its ownership interest in the Company to approximately 55 percent. The special committee will also evaluate any other offers that may be received, as well as other alternatives. Printcafe also announced the appointment of Marc Olin, President and Chief Executive Officer of Printcafe, as Chairman of the Board of Directors. --------------- Editor’s Note: Premium Access Members at WhatTheyThink.com can see the following additional reports by visiting www.whattheythink.com. 01.24.03 -- Raine Radar: What EFI said in their conference call with investors on January 22, 2003 01.24.03 -- Fridays with Dr. Joe Webb: Printcafe with Creo or EFI, Dr. Joe offers his opinion. 01.23.03 -- eXpert Row: Fresh, Innovative: EFI Targets the Commercial Print World - by Jeremy Smith (An article penned before recent events.) 01.23.03 -- Printcafe Software and Creo: This one may take some time. - by Gail Nickel-Kailing with WTT staff.