EFI completes sale of its eProductivity Software packaging and print productivity software business to an affiliate of Symphony Technology Group.
Electronics For Imaging, Inc. has completed a sale of its eProductivity Software (“EPS”) packaging and print productivity software business to an affiliate of Symphony Technology Group (“STG”). EFI will be prioritizing technology investments to accelerate growth in its industrial EFI Inkjet and Fiery businesses.
With the realignment EFI aims to capitalize on the growth opportunities available in its current segments and 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 analog-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 & Corrugated, Display Graphics, Textile, and Building Materials/Decor markets.”
“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 analog-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.”
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 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 & Corrugated, Display Graphics, Textile, and Building Materials/Decor markets,” said Scott Schinlever, Chief Operating Officer and General Manager, EFI Inkjet. “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.”
“The Fiery portfolio of products incorporates world-class colour algorithms, advanced cloud technology, and many other best-in-class 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: Investing for Growth under New Ownership
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.
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.