Epson announced on Friday that it acquired Fiery LLC, a digital front-end server and workflow solutions provider for the graphic arts and printing industries, for $591 million from private equity firm Siris.
Fiery was acquired by Siris in 2019 as part of its acquisition of EFI and since then operated as an independent company while positioning itself for eventual sale.
“Since our investment in Fiery in 2019, Toby [Weiss, Fiery CEO] and the team have grown the company’s leadership position in the [digital front-end] market, making significant progress expanding the product portfolio and deepening strategic partnerships,” Frank Baker, co-founder and managing partner at Siris, said in a statement. “Our partnership with Fiery is a great example of how we partner with management teams to drive value and position companies for continued long-term success. We look forward to seeing how the company continues to thrive with Epson moving forward.”
Baker added that, as a result of the divestiture and separation from Fiery, EFI is “now a streamlined leading provider of industrial inkjet solutions for the display graphics, packaging and textile industries with a broad range of printers, inks and service capabilities.”
The companies did not specify a closing date, but the transaction is expected to close before the end of 2024, subject to closing conditions such as regulatory approval. Following closure, Fiery will still operate under its current name and with its current organizational structure as part of the Epson group.
