EFI Focuses Technology Investment Strategy to Capitalize on High-Value Digital Imaging Segments
FREMONT, Calif., Jan. 05, 2022 (GLOBE NEWSWIRE) -- 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.”
Industrial Inkjet: Capturing Unprecedented Opportunity
Following the realignment, EFI is mking 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 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
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.
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NOTE TO EDITORS: The EFI logo and Fiery are registered trademarks of Electronics For Imaging, Inc. in the U.S. and/or certain other countries. EFI and IQ are trademarks of Electronics For Imaging, Inc. in the U.S. and/or certain other countries. All other terms and product names may be trademarks or registered trademarks of their respective owners and are hereby acknowledged.
Nothing herein should be construed as a warranty in addition to the express warranty statements provided with EFI products and services.
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