EFI has sold-off its eProductivity Software (EPS) packaging and print productivity software business to an affiliate of Symphony Technology Group (STG) to enable it to accelerate growth in what it says is its fast-growing industrial inkjet and Fiery business.
In a statement EFI said the realignment to capitalise on the opportunities available in existing segments the company serves, as well as drive expansion into markets that are beginning the transformation toward 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 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.
“We are making significant investments to continue to be the clear leader in the packaging and corrugated, display graphics, textile, and building materials/decor markets.
“Industrial inkjet imaging is one of the greatest opportunities I have seen in my 35 years in this industry. The sale of the software business provides our industrial inkjet and Fiery teams the focus that will best position them for success.”
EFI Inkjet will continue to drive development in high-volume, shuttle and single-pass inkjet technology and said it will leverage its 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 printers and presses.
The company 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 future of print is digital, and this realignment further solidifies EFI’s technology leadership position and accelerates growing our innovation edge as a provider of the world’s leading digital printers for the packaging and corrugated, display graphics, textile, and building materials/decor markets,” said Scott Schinlever, COO and general manager, EFI Inkjet. “This sets the stage for our customers to continue to produce more in less time, with less labour, at higher quality, with a reduced environmental impact, and will allow us to drive our level of inkjet knowledge and expertise into promising new market applications.”
Toby Weiss, COO and general manager of the Fiery business unit - a DFE provider with solutions that drive printers and presses from many equipment manufacturers - said: “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.”
EPS’ new owner, STG, is a private equity firm that focuses on investing in software, data analytics, and software-enabled technology services companies. It completed this acquisition on 30 December, 2021. The price and terms of the deal were not disclosed.
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 17-21 January gathering in Las Vegas, US.