Printcafe Software Inc., Pittsburgh, Pa., USA, signed a letter agreement, a stock option agreement and a standby credit facility with Electronics for Imaging Inc. These agreements are related to EFI’s offer to aquire Printcafe for $2.60 per share on Jan. 23. Creo Inc., which owns a majority stake in Printcafe, has also offered to buy the Printcafe shares it doesn’t own for $1.30 each, Dow Jones reported.

Printcafe said the letter agreement prevents it from soliciting other offers, though it may respond to a bona fide written offer that is superior to the EFI proposal.

The stock option agreement grants EFI an option to purchase up to 2.13 million shares of Printcafe common stock for $2.60 per share, provided that EFI does not breach its obligations under the standby credit agreement. The option will terminate on Dec. 31, 2007.

In return, EFI is obligated under the standby credit facility to provide Printcafe with $11 million plus working capital up to $3 million. All loans made under this facility bear an annual interest rate of 8 percent, payable on Jan. 2. But the maturity date may be accelerated if a merger is not materialized on or before June 30.