Gilead Sciences’ $180M Buy Will Close in October

FOSTER CITY, CA-Electronics For Imaging Inc. has reached an agreement to sell its headquarters building here for $180 million to Gilead Sciences Inc. The transaction is expected to close in October 2012, subject to various closing conditions.

The company will continue to occupy the building for up to 12 months after the closing, and expects to relocate its Foster City operations to a new San Francisco Bay Area location. “We are pleased to seize this opportunity to enter a win-win agreement with Gilead Sciences, one of the world’s strongest biopharmaceutical companies,” says Guy Gecht, CEO of EFI, in a prepared statement. “The proceeds from this transaction will make EFI an even stronger company for our shareholders, customers and employees.”