The Japanese printer manufacturer said it entered into an agreement yesterday (18 September) with affiliates of Siris Capital Group to acquire all interests in US company Fiery, which provides digital front-end servers and workflow products for the print industry.
The acquisition is expected to close within 2024, subject to necessary regulatory approvals and other customary closing conditions. The transaction has been valued at approximately $591m (£445m).
After the acquisition, Fiery will become part of the Epson group, but retain its current name and organisational structure, and continue to operate from its existing offices.
Epson said Fiery’s software, server, and workflow products would complement its strategic vision and hardware expertise “to accelerate the growth of digital printing around the world”.
Yasunori Ogawa, Epson’s president and representative director, said: “We are delighted to welcome Fiery into the Epson Group. We are confident that this agreement will not only drive further growth in our commercial and industrial printing businesses but also accelerate the digital transformation of the analogue printing market in innovative way.
“Together with Fiery, we remain committed to contributing to our customers’ success and enhancing corporate value as we pursue new opportunities in the evolving printing landscape.”
Toby Weiss, CEO of Fiery, will continue to lead Fiery under Epson’s larger corporate management structure, alongside the rest of Fiery’s management team.
He commented: “Epson’s acquisition of Fiery showcases the uniquely important role we play in enabling success across the entire print industry.
“As the leader in DFEs and workflow solutions, Fiery has built a long legacy of empowering OEMs to deliver the best possible results for their customers, and that legacy will be enriched under Epson’s strategic vision.
“Epson is a legendary company in the print industry, and we are thrilled to join the Epson family to drive the growth of digital printing around the world together.”
Frank Baker, co-founder and managing partner of Siris, also commented: “Siris has had an incredible partnership with Fiery, and Epson is the ideal owner to shepherd the company through its continued journey as a mission-critical technology provider to the printer industry.”
Siris acquired Fiery as part of Siris’ take-private acquisition of EFI in 2019. Under Siris’ ownership, Fiery became an independent business after separating from EFI in early 2023.
DC Advisory ran a targeted and global auction process to secure the sale of Fiery, and along with UBS Investment Bank acted as exclusive financial advisors to EFI and its shareholder Siris Capital in connection with the sale to Epson.
