News

Investment to Help Accelerate TPx’s Robust Growth in Enterprise Managed Services Market

NEW YORK and LOS ANGELES, August 19, 2019: Siris, a leading private equity firm focused on investing and driving value creation in technology and telecommunications companies, today announced that affiliates of Siris have entered into a definitive agreement to acquire U.S. TelePacific Holdings Corp. dba TPx Communications (“TPx”), the premier managed services provider, from investors including affiliates of Investcorp and Clarity Partners. Terms of the transaction were not disclosed.

With a 21-year history of delivering critical business communications services, TPx today provides an award-winning product line that includes unified communications, contact center, managed security, managed WAN, other managed IT services and network connectivity solutions. Serving approximately 30,000 business, government and not-for-profit customers with more than 50,000 locations across the U.S., TPx designs and delivers the comprehensive, performance-guaranteed solutions that enable customers to effectively grow and manage their enterprises.

Siris’ acquisition of TPx will provide the company with the resources it needs to continue the rapid growth it is realizing in the fast-growing addressable market for UCaaS, CCaaS and managed IT services, as well as supporting its continued delivery of industry-leading customer satisfaction to its large and diversified customer base.

“TPx has created a tremendous growth story over the past decade and we’re going to keep that narrative going strong,” said Dick Jalkut, Chairman of the Board and Chief Executive Officer of TPx. “Adding Siris’ experience and expertise in the UCaaS and managed IT services markets will make us even better-positioned to build on our award-winning track record of innovation and service quality for the benefit of our customers. With our new partners at Siris, we look forward to building our product portfolio, customer base, and customer satisfaction to new heights as we write the next chapter in TPx’s evolution and success.”

Commenting on the transaction, Frank Baker, Co-Founder of Siris, said, “For more than two decades, TPx has been a leader in developing premier managed service and connectivity solutions for the growing North American market. A key factor driving TPx’s growth has been its ability to evolve its product line successfully into the UCaaS and managed services markets while maintaining its outstanding commitment to operational excellence, translating to world class service quality. We have long admired TPx’s innovative products and deep customer relationships.

“TPx is a strong fit with our investment strategy. We look forward to working closely alongside the TPx team to help the company address evolving customer needs and drive new opportunities for innovation and growth.”

Joe Cozzolino, a Siris Executive Partner, said, “TPx is a best-in-class UCaaS and managed IT services provider and recently received multiple awards, including being named the #2 MSP on Channel Futures MSP 501 rankings. TPx expertly serves its large, diversified customer base through the deployment of a highly scalable and reliable UC platform and comprehensive suite of managed security, managed WAN and other managed IT services. We believe that, by partnering with Siris, TPx will be optimally positioned to address evolving customer needs and remain at the forefront of innovation in UC and IT solutions. I look forward to supporting the company’s continued growth and helping the team achieve its strategic objectives.”

The transaction is expected to close in the first or second quarter of 2020, subject to the satisfaction of regulatory approvals and other customary closing conditions.

Financing & Advisors
Equity financing will be provided by investment funds affiliated with Siris.

Sidley Austin LLP is serving as corporate counsel, Kirkland & Ellis LLP is serving as financing counsel, and PJT Partners is serving as lead financial advisor to Siris in connection with the transaction. Macquarie Capital is also serving as financial advisor to Siris. Evercore is serving as lead financial advisor to TPx. Q Advisors is also serving as financial and strategic advisor to TPx, and Gibson, Dunn & Crutcher LLP is serving as TPx’s legal counsel. Morgan Lewis and Bockius is serving as TPx’s regulatory counsel.

About Siris
Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners are integral to its approach. Siris’ Executive Partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York and Silicon Valley and has raised nearly $6 billion in cumulative capital commitments. www.siris.com

About TPx
Founded in 1998, TPx is a leading provider of UCaaS, Managed IT services and Managed Connectivity services, with approximately 30,000 customers and 53,000 customer locations across the U.S. TPx has best-in-class customer service embedded in its corporate DNA, offering guaranteed performance to all customers wherever there’s a broadband connection. TPx customers serve every business sector and include many government and not-for-profit enterprises. Throughout its history, the company has steadily executed strategically and delivered more than 16 years of uninterrupted growth over a period that has included two recessions. For more information, visit www.tpx.com or follow @TPxComm on Twitter.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements, including with respect to the anticipated benefits and timing of the proposed transaction. Forward-looking statements can be generally identified by the use of words such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “continue” or similar terminology. These statements reflect the parties’ current expectations and are not guarantees of future performance or results. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those contained in, or implied by, the forward-looking statements. These risks and uncertainties include, but are not limited to, conditions to the closing of the proposed transaction may not be satisfied, including that a governmental entity may prohibit, delay or refuse to grant a necessary regulatory approval; the proposed transaction may involve unexpected costs, liabilities or delays; TPX’s ability to recognize the anticipated benefits of the proposed transaction; the effect of the announcement or pendency of the proposed transactions on TPx’s business relationships, operating results, and business generally; the risk that revenue opportunities, cost savings, synergies and other anticipated benefits from the proposed transaction may not be fully realized or may take longer to realize than expected; and risks related to the equity and debt financing entered into in connection with the proposed transaction. These forward-looking statements speak only as of the date on which the statements were made. Neither Siris nor TPx undertakes any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

Media Contacts

TPx:
Khali Henderson
BuzzTheory (for TPx)
1-480-999-5297
khenderson@buzztheorystrategies.com

Siris:
Dana Gorman
Managing Director, Abernathy MacGregor
1-212-371-5999
dtg@abmac.com

Blair Hennessy
Senior Vice President, Abernathy MacGregor
1-212-371-5999
bth@abmac.com

FREMONT, Calif., July 23, 2019 (GLOBE NEWSWIRE): Electronics For Imaging, Inc. (“EFI” or the “Company”), today announced the completion of its previously announced acquisition by an affiliate of Siris for approximately $1.7 billion.

In connection with the closing of the transaction, the Company, which will continue to operate as Electronics For Imaging (EFI), will be wholly owned by an affiliate of Siris, and EFI’s common shares will be delisted from the NASDAQ exchange.

“This acquisition marks a new, exciting path forward in EFI’s 30-year history as a digital imaging technology leader,” said EFI CEO, Bill Muir. “With Siris’ partnership, we will look to create new opportunities for our customers, partners, and EFI employees worldwide. We are looking forward to working with Siris to write the next chapter of innovation across our growing portfolio of solutions.”

Jeff Jacobson, Siris Executive Partner and EFI Executive Chairman, added, “EFI’s portfolio of best-in-class solutions presents an exciting opportunity to drive further growth in high-quality inkjet and integrated, digital workflows. I look forward to working closely with management and know Siris is committed to providing the guidance and support needed to help EFI continue accelerating the transformation of industries where colorful images matter.”

The transaction, which was initially announced on April 15, 2019, was approved in a shareholder vote on July 15, 2019 in which 72.2% of EFI’s outstanding shares and 99.7% of voted shares were voted in favor of the transaction.

About EFI (www.efi.com)

EFI™ is a global technology company, based in Silicon Valley, and is leading the worldwide transformation from analog to digital imaging. We are passionate about fueling customer success with products that increase competitiveness and boost productivity. To do that, we develop breakthrough technologies for the manufacturing of signage, packaging, textiles, ceramic tiles, and personalized documents, with a wide range of printers, inks, digital front ends, and a comprehensive business and production workflow suite that transforms and streamlines the entire production process.

About Siris

Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners are integral to its approach. Siris’ Executive Partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York and Silicon Valley and has raised nearly $6 billion in cumulative capital commitments. www.siris.com

New York, July 15, 2019 – Siris, a leading private equity firm focused on investing and driving value creation in technology and telecommunications companies, today announced that David Yates has joined the firm as an Executive Partner. Mr. Yates most recently served as President of Mastercard’s New Payment Platforms and Executive Chairman of VocaLink, a Mastercard company. Mr. Yates will collaborate with the firm’s investment team and its other Executive Partners to help evaluate potential investment opportunities for Siris as well as help oversee the operations of its portfolio companies.

Mr. Yates developed a passion for building payments businesses around the world throughout his 35-year career. Prior to Mastercard acquiring VocaLink in June of 2017, Mr. Yates served as its Chief Executive Officer for six years, where he focused on powering innovation to increase the company’s competitiveness in the provision of payment solutions globally.

Earlier in his career, Mr. Yates served as president of Western Union, where he drove value creation by diversifying Western Union’s business into online money transfer and business payments. Before Western Union, Mr. Yates spent six years as president of First Data International, where he was responsible for building First Data’s activities outside of the United States, including the merchant acquiring, merchant transaction processing, issuer processing and ATM network solutions businesses. Mr. Yates also previously served on the board of directors of WorldPay, through its successful initial public offering.

Frank Baker, Co-Founder of Siris, commented, “David is a highly accomplished leader and boasts an exceptional track record of advancing strategic and operational initiatives and generating value for payments businesses. With more than three decades of experience in building businesses globally, we are confident that David will drive operational excellence at our portfolio companies and contribute valuable investment insights to our firm as we source potential opportunities.”

Mr. Yates earned a master’s degree in law from Oxford University.

Mr. Yates will join 13 experienced operating executives on the Siris Executive Partner team. Executive Partners are not employees of Siris, but provide invaluable sourcing and due diligence assistance to the Siris team and help direct strategic and operational improvements post-investment.

About Siris

Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners are integral to its approach. Siris’ Executive Partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York and Silicon Valley and has raised nearly $6 billion in cumulative capital commitments. www.siris.com

Media Contact:

Dana Gorman or Blair Hennessy
Abernathy MacGregor
(212) 371-5999
dtg@abmac.com / bth@abmac.com

Siris, a leading private equity firm focused on investing and driving value creation in technology and telecommunications companies, today announced that Jeff Jacobson has joined the firm as an Executive Partner.  Mr. Jacobson most recently served as Chief Executive Officer of Xerox and brings decades of industry leadership and experience to the Siris team.  Mr. Jacobson will collaborate with the firm’s investment team and Executive Partners to help evaluate potential investment opportunities for Siris as well as help oversee the operations of its portfolio companies.

Throughout his storied, three-decade-long career, Mr. Jacobson served in various leadership capacities, including as both President and Chief Operating Officer of Xerox’s Technology Business and President of Xerox’s Global Graphic Communications Operations.  Prior to joining Xerox in 2012, Mr. Jacobson was the Chairman, President and Chief Executive Officer of Presstek, a leading manufacturer of digital offset printing solutions.

As an Executive Partner at Siris, Mr. Jacobson will draw upon his deep experience of building and generating value in industrial printing and technology businesses to help grow Siris’ portfolio companies and identify meaningful investment opportunities in the industrial printing, packaging and adjacent ecosystems.

Frank Baker, Co-Founder of Siris, stated, “Jeff is a highly accomplished leader with a proven track record of identifying and driving operational and strategic improvements in industrial printing and technology businesses.  We are confident that Jeff will be a valuable addition to our Executive Partner team.”

Earlier in his career, Mr. Jacobson served as Chief Operating Officer of Eastman Kodak’s Graphic Communications Group, where he was responsible for managing operations in Eastman Kodak’s fifteen manufacturing locations throughout North America, Europe, Japan, China, Israel and South Africa.  Mr. Jacobson also served for five years as Chief Executive Officer of Kodak Polychrome Graphics, a joint venture between Sun Chemical and Eastman Kodak.

Mr. Jacobson holds a BS in Management from the State University of New York at Buffalo, a JD from Pace University and a master’s degree in Industrial and Labor Relations from Cornell University.

Mr. Jacobson will join 12 experienced operating executives on the Siris Executive Partner team.  While not employees of Siris, Executive Partners provide invaluable sourcing and due diligence assistance to the Siris team and help direct strategic and operational improvements post-investment.

About Siris

Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners are integral to its approach. Siris’ Executive Partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York and Silicon Valley and has raised nearly $6 billion in cumulative capital commitments. www.siris.com

Langley, U.K., May 30, 2019: Travelport Worldwide Limited (“Travelport” or the “Company”), a leading travel technology company, announced today the completion of its acquisition by affiliates of Siris Capital Group, LLC (“Siris”) and Evergreen Coast Capital Corp. (“Evergreen”) in an all-cash transaction valued at approximately $4.4 billion.

The transaction, which was originally announced on December 10, 2018, was approved by Travelport’s shareholders on March 15, 2019. In connection with the closing of the transaction, the Company, which will continue to operate as Travelport Worldwide Limited, will be wholly owned by affiliates of Siris and Evergreen, and Travelport’s common shares will be delisted from the New York Stock Exchange.

The Board of Directors of the new Travelport operating company will be led by Executive Chairman John Swainson, a Siris executive partner and a former executive at IBM Corporation, CA, Inc. (formerly Computer Associates) and the Dell Software group.

Commenting on the transaction closing, John Swainson said: “Through its best-in-class distribution capabilities, technology services, innovative payment solutions, and other value-additive digital tools for the global travel industry, Travelport is well positioned to deploy its global scale and local expertise to deliver key solutions for travel suppliers and agencies. With the combined support of Siris and Evergreen, I look forward to partnering with management to drive new opportunities for innovation and growth.”

Gordon Wilson, President and CEO of Travelport, commented: “We have commenced building a great relationship with the Siris and Evergreen teams. We now look forward to working closely alongside them as we continue to develop and invest in our platform to serve the evolving needs of our customers. We are confident that Siris’ and Evergreen’s support will enable Travelport to execute on its strategy in an exciting new phase of innovation and industry leadership.”

About Travelport (www.travelport.com)

Travelport is the technology company which makes the experience of buying and managing travel continually better. It operates a travel commerce platform providing distribution, technology, payment and other solutions for the global travel and tourism industry. The company facilitates travel commerce by connecting the world’s leading travel providers with online and offline travel buyers in a proprietary business-to-business (B2B) travel platform.

Travelport has a leading position in airline merchandising, hotel content and distribution, car rental, mobile commerce and B2B payment solutions. The company also provides IT services to airlines, such as shopping, ticketing, departure control and other solutions. With net revenue of over $2.5 billion in 2018, Travelport is headquartered in Langley, U.K., has over 3,700 employees and is represented in approximately 180 countries and territories.

About Siris

Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions.  Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its executive partners are integral to its approach.  Siris’ executive partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value.  Siris is based in New York and Silicon Valley and has raised nearly $6 billion in cumulative capital commitments. www.siris.com

About Elliott and Evergreen

Elliott Management Corporation manages two multi-strategy investment funds which combined have more than $34 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. This investment has been led by Evergreen Coast Capital, Elliott’s Menlo Park affiliate, which focuses on technology investing.

Travelport Media Contact:

Julian Eccles
VP PR and Communications
Tel: +44 (0)7720 409374
julian.eccles@travelport.com

Travelport Investor Relations contact:

Peter Russell
Head of Treasury and Investor Relations
Tel: +44 (0)1753 288 248
peter.russell@travelport.com

Siris:

Dana Gorman
Managing Director, Abernathy MacGregor
Tel: +1 212 371 5999
dtg@abmac.com

Blair Hennessy
Senior Vice President, Abernathy MacGregor
Tel: +1 212 371 5999
bth@abmac.com

Elliott/Evergreen:

Stephen Spruiell
Tel: +1 212 478 2017
sspruiell@elliottmgmt.com

New York, May 22, 2019:  Siris, a leading private equity firm focused on investing and driving value creation in technology and telecommunications companies, today announced that Tracy Harris will be joining Siris as Partner – Investor Relations and Product Strategy in the third quarter of 2019.  Ms. Harris has 15 years of experience in cultivating meaningful relationships globally.  In her new role at Siris she will help manage the firm’s relationships with its limited partners and prospective investors, as well as evaluate new product opportunities to help drive Siris’ continued growth.

Ms. Harris was most recently a Partner at StepStone Group, where she served as a senior member of the firm’s small buyout, growth equity and venture capital sector teams and developed new prospective client relationships.  She also led StepStone Group’s ESG efforts across all asset classes.

Frank Baker, Co-Founder of Siris, commented, “We have known Tracy since we raised our first Siris fund, and she is steeped in our strategy of investing in technology companies.  I know Tracy will be a valuable asset to our team, as she is well respected within the investment community.  We believe she will help us continue to scale the firm by strengthening our existing investor relationships and building new relationships.  Tracy will join Siris at an exciting time for us, as we recently closed Siris Fund IV at $3.45 billion.”

Prior to joining StepStone, Ms. Harris was Vice President, Customized Fund Investment Group, at Grosvenor Capital Management (and the predecessor business at Credit Suisse).  During her tenure at Grosvenor, Ms. Harris helped manage the in-state and emerging private equity investment programs and led the team’s client relationship management.  Prior to her time at Grosvenor, Ms. Harris served in a variety of increasingly senior roles at Parish Capital Advisors, culminating in her tenure as Partner and co-lead of the firm’s investment team, while also overseeing marketing and investor relations.

“I am incredibly excited to be joining Siris at such an important time for the firm,” said Ms. Harris.  “I have known and admired the Siris team since earlier in my career, and I believe my experience, skill set and relationships align well with Siris’ opportunities in the technology investing sector.”

Ms. Harris holds a Bachelor of Arts in Political Science from the University of North Carolina at Chapel Hill.

About Siris

Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions.  Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its executive partners are integral to its approach.  Siris’ executive partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value.  Siris is based in New York and Silicon Valley and has raised nearly $6 billion in cumulative capital commitments. www.siris.com

Media Contact:

Dana Gorman
Abernathy MacGregor
(212) 371-5999
dtg@abmac.com

FI Shareholders to Receive $37.00 Per Share and Acquisition Expected to Close by Q3 2019

Company Announces Preliminary Q1 2019 Revenue Results of $220-$225 Million

FREMONT, Calif., April 15, 2019 – Electronics For Imaging, Inc. (Nasdaq: EFII), a world leader in customer focused digital printing innovation, today announced that it has entered into a definitive agreement (the “Agreement”) to be acquired by an affiliate of Siris Capital Group, LLC (“Siris”) in an all-cash transaction valued at approximately $1.7 billion. Siris is a leading private equity firm focused on investing and driving value creation in technology companies that provide mission-critical solutions and are facing technology transitions.

Under the terms of the Agreement, which has been unanimously approved by EFI’s Board of Directors, an affiliate of Siris will acquire all the outstanding common stock of EFI for $37.00 per share in cash. The purchase price represents an approximately 45% premium over EFI’s 90-day volume-weighted average price ended on April 12, 2019.

EFI may solicit alternative acquisition proposals from third parties during a “go-shop” period over the next 45 calendar days. EFI will have the right to terminate the Agreement to enter into a superior proposal subject to the terms and conditions of the Agreement. There is no guarantee that this process will result in a superior proposal, and the Agreement provides Siris with a customary right to attempt to match a superior proposal. EFI does not intend to disclose developments with respect to the solicitation process unless and until it determines such disclosure is appropriate or is otherwise required.

“We believe this transaction delivers superior and immediate value to our shareholders while providing us with a partner that can add strategic and operational expertise to our business,” said Bill Muir, Chief Executive Officer of EFI. “We are excited to partner with Siris’ highly experienced team on this next phase of growth for EFI.”

Commenting on the transaction, Frank Baker, a Siris Co-Founder and Managing Partner, said, “EFI is at the forefront of the digital transition in the imaging and print industry, underpinned by a strong software heritage and culture of innovation. We believe that, by partnering with Siris, EFI will be well positioned to capture this transformational opportunity associated with increased digital inkjet penetration, industrial automation and software enablement. We are eager to partner with management to help the Company achieve its strategic objectives.”

Commenting on the transaction, Al Zollar, a Siris Executive Partner, said “EFI has a 30-year legacy of leadership in the digital imaging market, with strong brand equity and a rich history of pioneering innovative solutions for its customers. The Company’s portfolio of mission-critical products and services are united by a common thread of impressive technological enablement and software integration. I look forward to supporting EFI’s strong team to help the Company anticipate evolving customer needs and drive new opportunities for innovation and growth.”

EFI’s Board of Directors has unanimously recommended that its shareholders adopt the Agreement with Siris. Subject to the go-shop, a special meeting of EFI’s shareholders will be held as soon as practicable following the filing of the definitive proxy statement with the U.S. Securities and Exchange Commission (“SEC”) and subsequent mailing to shareholders.

Subject to the go-shop, the proposed transaction is expected to close by the third quarter of 2019 and is subject to approval by EFI’s shareholders, along with the satisfaction of customary closing conditions including antitrust regulatory approvals. The transaction is not subject to any financing conditions. Upon completion of the acquisition, EFI will become wholly owned by an affiliate of Siris.

EFI will file its quarterly report on Form 10-Q reporting its first quarter financial results but does not intend to host a quarterly earnings call. EFI currently expects Q1 2019 revenue to be between $220 million and $225 million.

Financing & Advisors
Equity financing will be provided by investment funds affiliated with Siris. Siris secured committed debt financing for the transaction from RBC Capital Markets, KKR Capital Markets LLC, Deutsche Bank Securities Inc., Barclays, Credit Suisse, and Macquarie Capital.

Sidley Austin LLP is serving as corporate counsel, Kirkland & Ellis LLP is serving as financing counsel, and RBC Capital Markets is serving as M&A advisor to Siris in connection with the transaction. Morgan Stanley & Co. and Greenhill & Co., LLC are serving as financial advisors to EFI, and O’Melveny & Myers is serving as its legal counsel.

For further information regarding the terms and conditions contained in the definitive merger agreement, please see EFI’s Current Report on Form 8-K, which will be filed in connection with this transaction.

About EFI
EFI™ is a global technology company, based in Silicon Valley, and is leading the worldwide transformation from analog to digital imaging. We are passionate about fueling customer success with products that increase competitiveness and boost productivity. To do that, we develop breakthrough technologies for the manufacturing of signage, packaging, textiles, ceramic tiles, and personalized documents, with a wide range of printers, inks, digital front ends, and a comprehensive business and production workflow suite that transforms and streamlines the entire production process. (www.efi.com)

About Siris Capital Group, LLC | Siris Capital
Siris is a leading private equity firm focused on making control investments in data, telecommunications, technology and technology-enabled business service companies primarily located in North America. Integral to Siris’ investment approach is its collaboration with its executive partners, who are highly experienced senior operating executives, to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically. (www.siris.com)

FORWARD LOOKING STATEMENTS
This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used herein, words such as “address,” “anticipate,” “believe,” “consider,” “continue,” “develop,” “estimate,” “expect,” “further,” “goal,” “intend,” “may,” “plan,” “potential,” “project,” “seek,” “should,” “target,” “will,” and variations of such words and similar expressions as they relate to EFI, its management or the proposed transaction are often used to identify such statements as “forward-looking statements.” Such statements reflect the current views of the Company and its management with respect to future events, including the proposed transaction, and are subject to certain risks and uncertainties that may cause actual results to differ materially from the results expressed in, or implied by, these forward looking statements. These risks and uncertainties include, but are not limited to, the following: (i) EFI may be unable to obtain shareholder approval as required for the proposed transaction; (ii) other conditions to the closing of the proposed transaction may not be satisfied, including that a governmental entity may prohibit, delay or refuse to grant a necessary regulatory approval; (iii) the proposed transaction may involve unexpected costs, liabilities or delays; (iv) the business of EFI may suffer as a result of uncertainty surrounding the proposed transaction; (v) shareholder litigation in connection with the proposed transaction may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; (vi) EFI may be adversely affected by other economic, business, and/or competitive factors; (vii) the occurrence of any event, change or other circumstances could give rise to the termination of the definitive merger agreement with affiliates of Siris; (viii) EFI’s ability to recognize the anticipated benefits of the proposed transaction; (ix) the risk that the proposed transaction disrupts EFI’s current plans and operations or diverts management’s or employees’ attention from ongoing business operations; (x) the risk of potential difficulties with EFI’s ability to retain and hire key personnel and maintain relationships with suppliers and other third parties as a result of the proposed transaction; and (xi) other risks to consummation of the proposed transaction, including the risk that the proposed transaction will not be consummated within the expected time period or at all. Additional factors that may affect the future results of EFI and the proposed transaction are set forth in filings that EFI makes with the SEC from time to time, including those listed under “Risk Factors” in EFI’s Annual Report on Form 10-K for the year ended December 31, 2018 and filed with the SEC on February 27, 2019, as updated or supplemented by subsequent reports that EFI has filed or files with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. EFI assumes no obligation to publicly update any forward-looking statement after it is made, whether as a result of new information, future events or otherwise, except as required by law.

IMPORTANT INFORMATION FOR INVESTORS AND WHERE TO FIND IT
This communication may be deemed to be solicitation material in respect of the proposed acquisition of EFI by affiliates of Siris. In connection with the proposed transaction, EFI intends to file relevant materials with the SEC, including a proxy statement in preliminary and definitive form, in connection with the solicitation of proxies from EFI’s shareholders for the proposed transaction. The definitive proxy statement will contain important information about the proposed transaction and related matters. BEFORE MAKING A VOTING DECISION, SHAREHOLDERS OF EFI ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT, AND OTHER RELEVANT DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT EFI, THE PROPOSED TRANSACTION AND RELATED MATTERS. Shareholders may obtain free copies of the proxy statement and other documents (when available) that EFI files with the SEC through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by EFI will also be available free of charge on EFI’s investor relations website at www.efi.com or by contacting EFI’s Investor Relations Department at investor.relations@efi.com.

PARTICIPANTS IN THE SOLICITATION
EFI and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from EFI’s shareholders in connection with the proposed transaction. Information regarding the ownership of EFI securities by EFI’s directors and executive officers is included in their SEC filings on Forms 3, 4 and 5, and additional information about EFI’s directors and executive officers is also available in EFI’s proxy statement for its 2018 annual meeting of shareholders filed with the SEC on April 27, 2018 and is supplemented by other filings made, and to be made, with the SEC by EFI. Additional information regarding persons who may be deemed participants in the solicitation of proxies from EFI’s shareholders in connection with the proposed transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, will be included in the proxy statement described above when it is filed with the SEC. These documents are or will be available free of charge as described above.

Contacts

EFI:
Vicki Sam
Chief of Staff
6750 Dumbarton Circle
Fremont, Ca 94555
1-650-357-3985
Vicki.sam@efi.com

Siris Capital:
Dana Gorman
Managing Director, Abernathy MacGregor
1-212-371-5999
dtg@abmac.com

Blair Hennessy
Senior Vice President, Abernathy MacGregor
1-212-371-5999
bth@abmac.com

New York, New York, April 3, 2019 — Siris Capital Group, LLC (“Siris”) today announced that affiliates of Wafra Inc. (“Wafra”) and Landmark Partners, LLC (”Landmark”) have made strategic minority investments in Siris. Siris is a leading private equity firm focused on investing and driving value creation in mature technology companies that provide mission-critical solutions and are facing technology transitions.

The transactions follow the recent closing of Siris’ latest buyout fund at $3.45 billion. Pursuant to the transactions, the investors will acquire passive, non-voting minority stakes and will provide capital to support Siris’ strategic initiatives, including the repurchase of an existing minority participation stake that was issued at the firm’s inception. The investments will have no impact on the day-to-day management or operations of Siris. The terms of the transactions were not disclosed.

“Peter, Jeff and I are pleased to welcome Wafra and Landmark as strategic investors as we embark on our next phase of growth,” said Frank Baker, a Siris Co-Founder and Managing Partner. “These investments are a testament to the value of Siris’ differentiated approach to technology investing, and our partnership with Wafra and Landmark will help us continue to capitalize on attractive opportunities in our focus areas.”

Russell Valdez, Chief Investment Officer of Wafra, added: “Driven by a talented investing team with deep domain expertise, Siris has the right infrastructure in place to skillfully execute on its differentiated investment strategy. Together with our partners, we look forward to the firm’s continued success.”

Ian Charles, a Partner at Landmark, said: “Siris is an impressive technology investor with significant experience working with mature companies to navigate difficult technology transitions while creating value through hands-on operational involvement. We look forward to the partnership in the years ahead.”

Goldman Sachs & Co. LLC and Berkshire Global Advisors advised Siris on the transaction. Kirkland & Ellis LLP served as legal counsel to Siris. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Wafra.

About Siris Capital Group
Siris is a leading private equity firm focused on making investments in data, telecommunications, technology and technology-enabled business service companies primarily located in North America. Integral to Siris’ investment approach is its collaboration with its executive partners, who are highly experienced senior operating executives, to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically. www.siris.com

About Wafra
Wafra has more than $23 billion of assets under management and invests across a wide range of asset classes. In its pursuit of investments, Wafra seeks to connect its investors, partners and stakeholders to foster an exchange of ideas and innovations. Wafra’s investment strategies, including strategic minority investments, express the long-term vision of its stakeholders. Wafra is headquartered in New York. For more information please visit www.wafra.com.

About Landmark Partners
Landmark Partners specializes in secondary market transactions of private equity, real estate and infrastructure investments, with approximately $27 billion of committed capital as of December 31, 2018. Founded in 1989, the firm has one of the longest track records in the industry and is a leading source of liquidity to owners of interests in real estate, real asset, venture, mezzanine and buyout assets. Landmark has completed over 625 transactions in its 30-year history. Landmark Partners has more than 125 professionals across five offices in Boston, Dallas, London, New York and Simsbury, Connecticut. www.landmarkpartners.com

Media Contacts:
Dana Gorman
Abernathy MacGregor, for Siris Capital
(212) 371-5999

Chelsea Stevenson
Landmark Partners
(212) 468-5656

James Maloney
Edelman, for Wafra
(212) 738-6103
wafra@edelman.com

New York, March 1, 2019 — Siris Capital Group, LLC (“Siris”), a leading private equity firm focused on making investments in technology companies, today announced the closing of Siris Partners IV, L.P. (together with its parallel funds, “Fund IV”) with $3.45 billion of capital commitments. Through Fund IV, Siris intends to continue its established strategy of control investing, targeting mature mission critical companies that are navigating technology transitions.

“We are grateful for the overwhelming support and trust our investors have placed in us,” said Siris Co-Founder and Managing Partner, Frank Baker. “While the technology sector has become increasingly competitive for attractive high growth assets, we continue to have strong conviction in our strategy of acquiring mature technology companies and driving value creation.”

Fund IV exceeded its target amount of $3.0 billion. It nearly doubles the $1.8 billion in capital commitments of the prior fund raised in 2015 and is more than five times the $640 million in capital commitments of its initial institutional fund raised in 2012. Fund IV attracted a diverse group of investors that includes sovereign wealth funds, public pension funds, multinational corporations, insurance companies, fund-of-funds, endowments, foundations and family offices, both in the United States and overseas.

Fund IV was activated for investments in late 2018. In the past year, Siris funds exited their investments in Polycom and Intralinks, and acquired Web.com. The previously announced acquisition of Travelport is expected to close in the first half of 2019. Park Hill Group LLC served as placement agent for Fund IV and Kirkland & Ellis LLP served as legal counsel.

About Siris Capital Group

Siris is a leading private equity firm focused on making control investments in data,telecommunications, technology and technology-enabled business service companies primarily located in North America. Integral to Siris’ investment approach is its collaboration with its executive partners, who are highly experienced senior operating executives, to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically. To learn more, visit us at www.siris.com.

Media Contact:
Dana Gorman
Abernathy MacGregor
(212) 371-5999