Electronics For Imaging, Inc. is announcing that it will be prioritizing technology investments to accelerate growth in its fast-growing industrial EFI™ Inkjet business to continue to lead the industry in the analog-to-digital transition, as well as in its market-leading 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.
This realignment allows EFI to accelerate investment into its Inkjet and Fiery business units to capitalize 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.
“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 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.”
Industry veteran Marc Olin joins eProductivity Software Board of Directors as Executive Chairman
eProductivity Software, a leading global provider of industry specific business and production software technology for the packaging and print industries, announced today that upon the closing of Symphony Technology Group’s (“STG”) acquisition of the company, Marc Olin, a technology veteran with over thirty-five years in the printing and packaging industries, is joining the eProductivity Software Board of Directors as Executive Chairman.
“When I heard about STG’s investment plans for the Productivity Software business, I became increasingly interested in joining what I know will be a successful future. With the increased focus on driving global organic and inorganic growth and with Gaby and the productivity software management team committed to lead the business forward, I knew that this would be a great opportunity to help them realize their vision,” said Marc Olin. “I am impressed with the progress the business has made in recent years and I am excited to be coming back to where I spent most of my career – transformational software technology for the printing and packaging industries,” Olin added.
Industrial Inkjet: Capturing Unprecedented Opportunity
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 & Corrugated, Display Graphics, Textile, and Building Materials/Decor 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, 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 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.”
Fiery: Driving Digital Print Innovation and Growth
The Fiery business unit, under the continued leadership of Fiery Chief Operating Officer and General Manager Toby Weiss, remains as the world’s 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 color 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.
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™ is a global technology company, based in Silicon Valley, and is leading the worldwide transformation from analog to digital imaging. We are passionate about fueling customer success with products that increase competitiveness and boost productivity. To do that, we develop breakthrough technologies for the manufacturing of signage, packaging, textiles, ceramic tiles, building materials and personalized documents, with a wide range of printers, inks, and digital front ends. (www.efi.com)