Private equity firm Siris Capital has completed the acquisition of technology firm Electronics For Imaging (EFI) for around $1.7bn (£1.3bn).
Image: Siris Capital has acquired Electronics For Imaging £1.3bn. Photo: courtesy of rawpixel from Pixabay.
EFI, which will continue to operate with the same name, will be wholly-owned by an affiliate of Siris.
Based in Silicon Valley, EFI is specialised in providing digital printing technology solutions to its customers. It serves industries, including label and packaging businesses, ceramic tile manufacturers, textile market and others.
EFI CEO Bill Muir said: “With Siris’ partnership, we will look to create new opportunities for our customers, partners, and EFI employees worldwide.
“We are looking forward to working with Siris to write the next chapter of innovation across our growing portfolio of solutions.”
The printing firm provides advanced technologies for the manufacturing of packaging, signage, textiles, ceramic tiles and personalised documents, with a range of printers, inks, and digital front ends.
With EFI’s productivity software, the packaging and extrusion companies can manage the entire integrated workflow ranging from job acquisition to estimating, prepress, scheduling, data collection, job costing, shipping, and accounting.
The company provides a digital label and narrow web printing system, as well as ERP solutions for real-time business and production management data.
The printing technology firm provides high-speed UV LED inkjet printer for the corrugated industry. EFI Nozomi C18000 single pass printer delivers cost-effective on-demand and just-in-time jobs, as well as quality full-colour graphics and consistent colour from proof to final print and from job to job.
EFI’s digital inkjet printing technology can also be used in the conventional folding carton package production. It will help produce accurate and consistent colour on proofs and mock-ups.
Siris executive partner and EFI executive chairman Jeff Jacobson said: “EFI’s portfolio of best-in-class solutions presents an exciting opportunity to drive further growth in high-quality inkjet and integrated, digital workflows.
“I look forward to working closely with management and know Siris is committed to providing the guidance and support needed to help EFI continue accelerating the transformation of industries where colorful images matter.”