EFI prioritizes technology investments in inkjet technologies; Selling a productivity software company
FREMONT, Calif. – Electronics For Imaging, Inc. announces that it will prioritize technology investments to accelerate the growth of its fast-growing EFI™ industrial inkjet business to continue to lead the industry in the analog transition -digital, as well as in its market-leading Fiery® business. As part of this targeted strategy, EFI has completed the sale of its packaging and print productivity software business eProductivity Software (“EPS”) to a subsidiary of Symphony Technology Group (“STG”). EFI and EPS will continue to work with their mutual customers and partners to ensure mutual success.
This realignment allows EFI to accelerate investments in its Inkjet and Fiery business units in order to capitalize on the growth opportunities available in the existing segments the company serves, as well as drive expansion in markets that are beginning the transformation to digital.
“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 color printing, to continue to lead the analog-to-digital transformation in all high technologies. -value segments of imaging – while increasingly serving new adjacencies including e-commerce, apparel direct selling and other rapidly growing segments,” said Jeff Jacobson, CEO and Executive Chairman challenge. “We are making significant investments to continue to be the undisputed leader in the packaging and corrugated, display graphics, textile and building/decorating materials markets.”
“The potential of high-growth industrial inkjet markets drives us to accelerate our investments in market-leading products and services that are driving the transformation from analog to digital. Industrial inkjet imaging is one of the greatest opportunities I have seen in my 35 years in this industry,” added Jacobson. “Selling the software business provides our industrial inkjet and Fiery teams with the direction that will best position them for success.”
Industrial Inkjet: Seizing Unprecedented Opportunities
The industrial inkjet space is rife with opportunities in existing and adjacent verticals. EFI Inkjet will continue to be the leader in high-volume, shuttle, single-pass inkjet technology, which the company has currently implemented in award-winning, high-performance packaging and corrugated products. , display graphics, textiles and building materials. /Vertical decor. 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, high-quality printers and presses.
Following the realignment, EFI is investing in R&D to strengthen its position in key markets while entering new categories, including the development of technologies to meet new applications for the textile space and for packaging.
“The future of printing is digital, and this realignment further solidifies EFI’s technology leadership position and accelerates the growth of our innovation lead as a supplier to the world’s leading digital printers for printing markets. packaging and corrugated, graphic display, textile and building/decorating materials,” said Scott Schinlever, chief operating officer and general manager of EFI Inkjet. “It sets the stage for our customers to continue to produce more in less time, with less labor, with better quality, with less environmental impact, and will allow us to direct our level of knowledge and inkjet expertise towards promising new market applications. ”
Fiery: Driving innovation and growth in digital printing
The Fiery business unit, under the continued leadership of Fiery Chief Operating Officer and Managing Director, Toby Weiss, remains the world’s leading DFE provider, enabling the high performance required in many vertical markets including packaging, signage and commercial printing with advanced Fiery solutions -end printers and presses from many major equipment manufacturers.
“The Fiery product portfolio incorporates world-class color algorithms, advanced cloud technology and many other leading proprietary solutions that reduce production time and improve print quality,” said Weiss. “Working closely with our partners, our investments in the future of Fiery technology will drive even better solutions, including cutting-edge cloud offerings through an EFI IQ™ product suite that continues to help customers achieve new levels of automation. , accuracy and profit potential of digital printing.
Productivity Software: Investing for Growth Under New Ownership
EPS’s new owner, STG, is a leading private equity firm focused on investing in software-based software, data analytics and technology services companies, and will help EPS deliver increased value to its packaging and printing customers and accelerate global growth. STG completed this acquisition on December 30, 2021. Pricing and terms of the transaction were not disclosed.
Moelis & Company LLC acted as exclusive financial advisor and Sidley Austin LLP acted as legal advisor to EFI in connection with the sale of EPS. Paul Hastings LLP acted as legal counsel to STG.
The upcoming EFI Connect User Conference will be a joint event for EFI and EPS customers. Executives from both companies will present their technology enhancements and product roadmap strategies at the Jan. 17-21 gathering in Las Vegas.