EFI completes Vutek takeover ahead of time

EFI completed its acquisition of Vutek last week a month ahead of schedule.

The firm was "delighted with the early closure of the acquisition" of the superwide ink-jet printer manufacturer for 154.5m ($281m), which has led it to release a more upbeat outlook for its second quarter's figures.

EFI expects the purchase to add nearly 6m to its revenues, taking the total to almost 52m for the quarter ending 30 June. Earnings per share should be around 6p (11 cents).

"We are excited about the growth opportunities for the superwide digital ink-jet market as well as the synergies with EFI's existing products," said chief executive Guy Gecht.

EFI president Fred Rosenzweig said that the firm would invest in R&D in Vutek to enable parallel product development.