January 6, 2022 By PrintAction Staff
Electronics For Imaging, Inc., will be prioritizing technology investments in its inkjet and Fiery businesses. As part of this focused strategy, EFI sells its eProductivity Software (EPS) packaging and print productivity software business to an affiliate of Symphony Technology Group (STG).
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 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 chair. “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 sale of the software business provides our industrial inkjet and Fiery teams the focus that will best position them for success.”
Following the acquisition, EPS becomes an independent global software company. STG is a private equity partner to companies in software, data and analytics.
EPS is a supplier of mission critical ERP and business and production software purposely built to empower the packaging and print industries. STG’s backing will accelerate EPS’ growth as a standalone company through organic and inorganic initiatives to deepen and broaden the company’s capabilities.
“This strategic step in becoming an independent company enables us to bring greater value to our customers, as well as the packaging and print industries overall, by extending our collaboration with key industry technology players. We will, of course, continue to collaborate closely with our friends at EFI. Additionally, we will accelerate investments in our technology advancements and modernization, in our level of partnership with customers, and in driving global organic and inorganic growth,” said Gabriel (Gaby) Matsliach, CEO of eProductivity Software.
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