Financial capital plus strategic and market assistance part of the deal.
EFI has completed an investment in Raster Printers, the California-based manufacturer of UV wide-format machines. EFI says that the agreement comprises a strategic equity investment for a minority equity share and will provide financial capital and strategic assistance as well as market assistance.
Raster Printers will continue operating as an independent business and the Raster nameplate will continue on all Raster printers. Nor are there any plans to private label, co-brand, or re-sell Raster printers via the Vutek salesforce or distribution network. 'However, EFI Vutek does have a strong presence in the marketplace and a large and loyal customer base, and we may assist Raster Printers with introductions,' says Holly O’Rourke, EFI public relations representative. 'We feel that both of the brands are very strong independently of each other and we will leverage that brand recognition in the marketplace. These products serve different customer bases.'
"This partnership with EFI comes at a great time for Raster Printers and its customers," says Rak Kumar, president of Raster Printers. "...Collaboration with EFI will help us deliver the quality and reliability that our customers expect, and enable us to increase the level of innovation we can jointly introduce into the UV wide-format market. We are also excited about the opportunity to leverage EFI’s global sales and marketing footprint to increase market awareness for Raster Printers’ products and to gain access to EFI’s large customer base."
Raster Graphics Inc. was founded in 2004 by Rak Kumar, the former CEO of Oce Display Graphics and Raster Graphics. The company introduced its new Daytona H700UV 72-in. flatbed printer with grayscale MEMS printheads at the recent SGIA show in Orlando.
"Raster Printers, under the leadership of Rak Kumar, has developed market-leading products in wide format UV inkjet printing," says Chet Pribonic, VP and GM of EFI Vutek. "By investing in Raster Printers, EFI continues to demonstrate its dedication to bringing the broadest array of innovative products to the printing industry, especially in the growing display graphics market. Raster’s products offer an ease-of-entry strategy for printers wishing to take advantage of the huge market opportunity offered by roll-to-roll and rigid substrate UV printing of display graphics."