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Electronics For Imaging Acquires Unimobile

Wednesday, May 08, 2002

Press release from the issuing company

FOSTER CITY, Calif.--May 7, 2002--Electronics For Imaging, Inc., the world leader in software and hardware imaging solutions for network printing, today announced it has acquired Unimobile, Inc., a wireless messaging software company. Unimobile's scalable platform allows enterprises and carriers to enable mission-critical, interactive mobile messaging for their customers, partners and employees through their secure, two-way global data delivery network. Unimobile's technology is a strategic fit with PrintMe Networks(TM), further enhancing EFI's offerings to the mobile professional market. "In today's mobile environment, companies want to keep in touch with their employees and customers and enable them to access their business and personal information anytime and anywhere," said Guy Gecht. "With the addition of Unimobile's technology and talented employees, we are taking an important step toward furthering our vision of providing easy and ubiquitous access to critical electronic and printed information using any mobile device in any location." Unimobile, founded in 1996, has offices in Santa Clara, CA and Bangalore, India. Vasudev Bhandarkar, Unimobile's chairman and CEO, will head the Unimobile business unit at EFI. "We are delighted to join forces with Electronics For Imaging," said Unimobile CEO Bhandarkar. "EFI has demonstrated that it understands the global transformation underway in wireless communications through its successful development of PrintMe Networks. Their technological expertise and financial strength will help Unimobile grow the reach of our messaging solutions and the level of services we provide our customers. The acquisition price is approximately $2.5 million, including up to a $1 million earn-out based on achievement of revenue goals. The acquisition of Unimobile is not expected to have an impact on EFI's second quarter pro forma earnings per share, but could create a one time charge related to an R&D write off. This could result in approximately a $0.01 charge to GAAP earnings per share. The company will provide further information during its quarterly earnings conference call in July.




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