EFI and Agfa DPS to Combine in Global Industrial Inkjet Business

Proposed combination will create a broader industrial inkjet platform spanning textile, packaging, décor and display graphics

Electronics for Imaging, Inc. (EFI) and Agfa-Gevaert (Agfa) have announced a definitive agreement to combine Agfa’s Digital Printing Solutions business (Agfa DPS) with EFI, creating a jointly held industrial inkjet company with a broader product portfolio and global reach.

Under the proposed transaction, an affiliate of Siris will hold a 60% interest, while Agfa will hold 40% in the combined company. The businesses will operate under a governance structure in which Siris and Agfa will act as equal partners.

The agreement follows a global partnership established between EFI and Agfa in 2024, through which the companies expanded their product offerings by providing access to complementary technologies.

Combined Industrial Inkjet Portfolio

The combination will bring together EFI’s industrial inkjet capabilities with Agfa DPS’s application expertise across several segments.

EFI has a presence in digital single-pass, roll-to-roll, hybrid and textile printing, with platforms including Nozomi, VUTEK and Reggiani. Agfa DPS provides industrial inkjet solutions for display graphics, décor and packaging, with its portfolio including Jeti TAURO, Onset PANTHERA and SpeedSet ORCA platforms.

The companies expect the combined business to generate approximately €540 million (US$625 million) in revenue in 2026 on a pro forma basis.

The business will serve thousands of customers across more than 100 countries, supported by complementary geographic strengths in North America and Europe and a global sales and service network.

Focus on Scale and Market Expansion

According to the companies, the combination is expected to create opportunities for cross-selling and provide access to additional applications and geographic markets.

The combined company will bring together capabilities across print engines, inks, software and workflow, supported by a global service network. The companies said this broader base of expertise is intended to support customers from development through production.

“Today’s announcement reflects our long-term commitment to digital printing and our conviction in the future of the industry,” said Pascal Juéry, CEO of Agfa-Gevaert. “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 Baker, Co-Founder and Managing Partner, and David Calamai, Managing Director, of Siris, said the combination brings together complementary capabilities and is intended to expand the business’s reach across markets.

“At Agfa, we believe this combination can help accelerate the adoption of digital printing across the industry,” said Vincent Wille, President of Agfa DPS. “By combining technology leadership, global reach and deep application expertise, we can help our customers achieve new levels of productivity, agility and sustainable growth, enabling them to innovate faster, reduce waste and create lasting value across the entire print ecosystem.”

Textile Printing and Digitalisation

For the textile sector, EFI’s Reggiani platform forms part of the combined company’s industrial inkjet portfolio. EFI has developed digital textile printing technologies alongside solutions for corrugated packaging, roll-to-roll and hybrid applications.

The companies said the broader platform will allow them to build on their existing technology partnership and expand the range of industrial inkjet solutions available to customers.

“Our partnership with Agfa over the past two years has highlighted the strength of our complementary technologies, expertise and teams,” said Frank Pennisi, CEO of EFI. “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.”

Transaction Expected to Close by End-2026

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

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