Electronics For Imaging Inc. says it will prioritize technology investments to accelerate growth in its industrial EFI Inkjet business to help lead the industry in the analog-to-digital transition and its Fiery business. As part of this focused strategy, EFI has completed the sale of its eProductivity Software (EPS) packaging and print productivity business to an affiliate of Symphony Technology Group (STG). EFI and EPS will continue to collaborate with their joint customers and partners.
This realignment lets EFI accelerate investment into its inkjet and Fiery business units to capitalize on the growth opportunities available in existing segments the company serves and drive expansion into markets that are beginning the transformation toward digital.
Jeff Jacobson, EFI’s CEO and executive chairman, says, “We have never been more excited about the opportunity in the industrial inkjet markets.” He looks forward to leveraging EFI’s technology to drive the digital transformation in e-commerce and direct-to-garment, among other segments. Jacobson adds that EFI’s investments will advance the company within the packaging, display graphics, textiles, and 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,” Jacobson adds.
EFI will leverage its hardware, mechanical control software, electronics, services, cloud-connected devices, and ink innovations to deliver 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 developing technologies to address new applications for the textile space and packaging.
Scott Schinlever, COO and general manager, EFI Inkjet, adds, “This sets the stage for our customers to continue to produce more in less time, with less labor, 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.”
EPS’ new owner, STG, is a private equity firm that focuses on investing in software, data analytics, and software-enabled technology services companies and will support EPS’ packaging and print customers. STG completed this acquisition on Dec. 30, 2021. The price and terms of the deal were not disclosed.
Moelis & Company LLC served as the exclusive financial advisor, and Sidley Austin LLP acted as legal counsel to EFI in selling 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 technologies and product roadmap strategies during the Jan. 17-21 Las Vegas gathering.