A realignment within EFI will allow the company to accelerate investment into its Inkjet and Fiery business units to capitalise on the growth opportunities available in existing segments the company serves, as well as drive expansion into markets that are beginning the transformation toward digital.
EFI will be prioritising technology investments to accelerate growth in its fast-growing industrial EFI Inkjet business to continue the analogue-to-digital transition, as well as in its Fiery® business.
As part of this focused strategy, EFI has completed a sale of its eProductivity Software (‘EPS’) packaging and print productivity software business to an affiliate of Symphony Technology Group (‘STG’). EFI and EPS will continue to collaborate with their joint customers and partners to ensure mutual success.
‘We have never been more excited about the opportunity in the industrial inkjet markets and our ability to leverage Fiery, the leading Digital Front End (DFE) technology for digital colour printing, to continue to drive the analogue-to-digital transformation in all high-value segments of imaging – while increasingly serving new adjacencies including e-commerce, direct-to-garment and other rapidly growing segments,’ said Jeff Jacobson, EFI’s CEO and Executive Chairman.
‘The potential of the high-growth industrial inkjet markets is the impetus for us to accelerate our investments in market-leading products and services that drive the analogue-to-digital transformation. Industrial inkjet imaging is one of the greatest opportunities I have seen in my 35 years in this industry,’ Jacobson added. ‘The sale of the software business provides our industrial inkjet and Fiery teams the focus that will best position them for success.’
The industrial inkjet space is ripe with opportunity in existing and adjacent vertical markets. EFI Inkjet will continue to drive its leadership in high-volume, shuttle and single-pass inkjet technology, which the company has currently implemented in award-winning, high-performance products for the packaging and corrugated, display graphics, textile and building materials/décor verticals. EFI will also leverage its industry-leading expertise in hardware, mechanical control software, high-speed electronics, services, cloud-
connected devices and ink innovations to deliver the next generation of versatile, high-volume and superior-quality printers and presses.
Following the realignment, EFI is making investments in R&D to strengthen its position in core markets while entering new categories – including the development of technologies to address new applications for the textile space and for packaging.
The Fiery business unit, under the continued leadership of Fiery Chief Operating Officer and General Manager Toby Weiss, remains a premier DFE provider, enabling the high performance required across many vertical markets including packaging, signage and commercial print with advanced Fiery solutions driving high-end printers and presses from many major equipment manufacturers.
‘The Fiery portfolio of products incorporates world-class colour algorithms, advanced cloud technology and many other proprietary solutions that reduce production time and increase print quality,’ said Weiss.
‘Working in close consultation with our partners, the investments we are making in the future of Fiery technology will foster even stronger solutions, including leading-edge cloud offerings through an EFI IQ™ suite of products that continues to help customers achieve new levels of automation, accuracy and profit potential in digital printing.’
Productivity Software
EPS’ new owner, STG, is a leading private equity firm that focuses on investing in software, data analytics and software-enabled technology services companies, and will support EPS to deliver enhanced value to its packaging and print customers and accelerate global growth. STG completed this acquisition on December 30, 2021. The price and terms of the deal were not disclosed. Moelis & Company LLC served as exclusive financial advisor, and Sidley Austin LLP acted as legal counsel, to EFI in the sale of EPS. Paul Hastings LLP acted as legal advisor to STG.
EFI’s upcoming Connect users conference will be a joint event for EFI and EPS customers. Leaders from both companies will highlight their technology enhancements and product roadmap strategies during the January 17-21 Las Vegas gathering.
EFI
www.efi.com
