Silicon Valley-based textile printer EFI Reggiani (NASDAQ: EFII) announced Friday that it has acquired privately held BDR Boya Kimya, a leader in manufacturing inks for industrial digital textile printing.
The terms of the deal were not disclosed.
BDR is based in Turkey, and while EFI said the company's employees will be joining its team, they will continue to be based in Turkey.
Why It's Important
BDR, founded in 2016, services top global textile and apparel manufacturers, according to Friday's press release.
EFI's lineup of industrial textile inkjet printers is part of an ecosystem of textile design and production products, according to the company.
"The synergies arising with BDR and the world-class portfolio of EFI Reggiani textile printers will be a key point of emphasis for us to continue providing high-quality products and innovation," EFI Reggiani Vice President and General Manager Adele Genoni said in a statement.
"EFI Reggiani is also significantly strengthening its presence in Turkey with this acquisition, which brings u to the heart of an important and growing textile hub."
The deal's financials are not expected to be material to EFI's second-quarter or full-year results, the company said.
EFI Reggiani shares were trading up 0.27 percent to $37.35 at the time of publication Friday.
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Photo courtesy of EFI Reggiani.
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