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NEWS RELEASEFebruary 22, 2011For Immediate Release (Jacksonville, FL) - Tennant & Russell, LLC, a consulting company specializing in strategic moves for software companies within the printing industry, announced this morning the acquisition of Streamline Development, LLC, its client, by Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation. Streamline is a provider of PrintStream ERP/MIS software focused on mailing and fulfillment services for the printing industry. Financial terms of the acquisition were not disclosed. "We were very pleased to be able to drive this deal forward", said Tennant & Russell, President James McCarthy. "The acquisition process can be very involved, time consuming and complicated, and we were delighted that we could help move the process very quickly from offer to closure." PrintStream software will become part of EFI's Advanced Professional Print Software portfolio. EFI intends to integrate key PrintStream features and technologies supporting mailing and fulfillment into its core ERP/MIS platforms, including EFI Pace, EFI Monarch and EFI Radius while continuing to support the existing PrintStream client base. "We are very pleased to bring PrintStream into our growing customer community and combine our world-class offerings to the market," said Marc Olin, GM of EFI's Advanced Professional Print Software division ("APPS"). He continued, "EFI's goal is to better serve the industry by expanding our customer offerings and portfolio. We want to continue to offer our customers a complete product portfolio that seamlessly executes job creation to production, allowing them to be more efficient and effective, and ultimately, more profitable." Streamline is headquartered in San Rafael, CA. Streamline brings many years of experience developing and deploying applications developed specifically to manage the unique needs of printing, direct mail and fulfillment organizations. Streamline's customers range from small direct mail and printing businesses through large multi-site enterprises involved in all aspects of printing, direct mail and fulfillment. "The PrintStream team and I are very excited about joining EFI, the leader in ERP/MIS," added Laurence Snyder CEO of Streamline. "We look forward to sharing our expertise in the areas of mailing and fulfillment requirements to enhance EFI products." About EFI: About Tennant & Russell: Tennant & Russell is a consulting firm specializing in strategic alliances for small to mid range companies. A large portion of their clients are in the software industry. T & R works with organizations to determine and leverage their greatest strengths to take advantage of strategic opportunities in the marketplace. Client coverage stretches outside the US to Europe, Australia, and South America. # # # Back to Transactions Page |
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