EFI and Kodak takeovers get the nod

EFI's takeover of Vutek has reached completion a month earlier that was initially anticipated, with the deal closing for approximately $AUS370 million and prompting EFI to release an outlook with a more positive spin for its second quarter figures.

EFI chief executive Guy Gecht expressed excitement over the company's future prospects in light of the acquisition. “We are excited about the growth opportunities for the superwide digital ink-jet market, as well as the synergies with EFI's existing products,” he says. “As we enter the last month of the quarter, we feel confident we will deliver on the prior outlook for our existing businesses.”

Meanwhile, the Kodak takeover of Creo has moved one step closer to completion, with the news that Antitrust Division of the United States Department of Justice has ceased its investigation into the proposed acquisition.

Regulatory bodies in Canada, the European Union and Israel have already approved the deal, with a response from the South African authorities expected by the 24th of June to give the final go ahead to the transaction.