Sriraam Selvam - Top five headlines of the week

Jacobson at EFI as Siris sale completes
Former Xerox chief executive Jeff Jacobson has become executive chairman of EFI after the private equity firm that he recently joined as an executive partner completed its acquisition of EFI. New York-headquartered Siris Capital finalised its purchase after inking a USD 1.7bn deal for the manufacturer in April.

The company has confirmed that it will continue to operate as Electronics For Imaging (EFI), will be wholly owned by an affiliate of Siris, and that EFI’s common shares will be delisted from the NASDAQ exchange.

Epson unveils new dye-sub printer
Epson has unveiled the SureColor SC-F6300, a new dye-sub printer developed for textiles producers, photographic studios and promotional goods businesses. Building on the success of its predecessor the SureColor SC-F6200, which it is replacing in the market, the SC-F6300 is said to offer improved user productivity and reduced downtime.

GEW to launch new LED curing system
GEW is set to launch its new LeoLED UV curing system in a bid to make the technology affordable and accessible, with versions for label printing and sheetfed offset available. A cassette version of the system for narrow web label presses will headline the product’s commercial launch at Labelexpo in Brussels, Belgium, from 23-27 September, though both versions will be at the show.

Monotype to be acquired by private equity firm
Global typeface giant Monotype Imaging Holdings is set to be acquired by private equity firm HGGC. Following completion of the transaction, which is subject to various closing conditions, Monotype will become a privately-held company and shares of its common stock will no longer be listed on any public market. Founded in 1887, Monotype turned over USD63.2m – an increase of 4% year-on-year – and achieved net income of USD10.3m in the three-month period ended 30 June 2019.

Quad/Graphics and LSC Communications merger is off
The industry mega-merger between US print giants Quad/Graphics and LSC Communications is off – with Quad having to stump up a USD45m fee as a result – after the two firms “mutually agreed” to terminate the agreement following official attempts to block it. The USD1.4bn takeover deal, which would have created an USD8bn turnover group, was announced at the end of October last year, and gained shareholder approval in February.

And industry leader said, delay, uncertainty and cost of legal challenges proved too much for the mega merger.