EFI and Agfa to form new combined company

Electronics for Imaging (EFI) and Agfa-Gevaert (Agfa) have announced a definitive agreement to combine Agfa’s Digital Printing Solutions business with EFI, forming a new full-service industrial inkjet company.

The agreement follows a global partnership that EFI and Agfa established in 2024, which enabled both companies to expand their product offerings through access to complementary technologies.

EFI is a portfolio company of private equity firm, Siris, who bought EFI in 2019 for around $1.7bn (£1.33bn). As part of the new deal between the two industrial inkjet manufacturers, an affiliate of Siris will hold a 60% interest in the jointly held company, while Agfa will hold a 40% interest.

The deal aims to bring together the operating capabilities of EFI and Agfa DPS under a single governance structure, with Siris and Agfa acting as equal partners.

Backed by a combined global service network, the new company will aim to draw on a broader base of inkjet expertise spanning print engines, inks, software, and workflow, with the goal of shortening the path from development to production.

EFI’s industrial inkjet solutions cover digital single-pass technologies for corrugated packaging, roll-to-roll, hybrid, and textile printers through its Nozomi, VUTEK, and Reggiani platforms.

Agfa, meanwhile, has a core focus in display graphics, décor, and packaging applications, with a portfolio that includes the Jeti TAURO, Onset PANTHERA, and SpeedSet ORCA platforms.

Together, EFI and Agfa DPS expect to generate approximately $625m (£472.4m) of revenue in 2026 on a pro forma basis and will serve a base of thousands of customers across more than 100 countries.

Pascal Juéry, chief executive officer of Agfa-Gevaert, says: “This announcement reflects our long-term commitment to digital printing and our conviction in the future of the industry.

“By bringing together Agfa DPS and EFI, we are creating a stronger business with greater scale, broader access, and enhanced innovation capabilities. Rather than continue as a standalone business, we are choosing to partner with Siris to unlock the next phase of accelerated growth for our DPS business while maintaining meaningful upside for Agfa’s stakeholders.”

Frank Pennisi, chief executive officer of EFI, adds: “Our partnership with Agfa over the past two years has highlighted the strength of our complementary technologies, expertise, and teams. This combination is a natural next step that allows us to build on that momentum with a broader platform, accelerating innovation and expanding the solutions we can deliver to customers across industrial inkjet.”

The proposed transaction is expected to close by the end of 2026 and is subject to customary employee information and consultation processes, regulatory approvals, and closing conditions.

EFI and Siris were advised by DC Advisory, which acted as exclusive financial advisor, and Sidley Austin LLP, which served as legal advisor.