BRUSSELS: Electronics for Imaging, Inc. and Agfa-Gevaert announced a definitive agreement Monday to combine Agfa’s Digital Printing Solutions business with EFI, creating a scaled industrial inkjet company.

Under the agreement, an affiliate of Siris, EFI’s private equity owner, will hold a 60% interest in the joint venture, while Agfa will hold 40%. Siris and Agfa will act as equal partners in the governance structure.

The deal follows a global partnership the two companies established in 2024 that expanded their product offerings through access to complementary technologies.

The combined company will bring together EFI’s Nozomi, VUTEK and Reggiani platforms with Agfa DPS’s Jeti TAURO, Onset PANTHERA and SpeedSet ORCA platforms.

EFI is strongest in digital single-pass printing for corrugated packaging, roll-to-roll, hybrid and textile printers, while Agfa DPS has distinct strengths in display graphics, décor and packaging applications.

The companies expect the combined business to generate approximately €540 million ($625 million) in revenue in 2026 on a pro forma basis. It will serve thousands of customers in more than 100 countries, supported by complementary geographic strengths across North America and Europe and a global sales and service network.

“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.”

Frank Baker, co-founder and managing partner of Siris, and David Calamai, managing director, said in a joint statement that EFI and Agfa DPS “bring together distinct and complementary capabilities, forming a business with the reach and depth to do more for customers across more markets.”

Vincent Wille, president of Agfa DPS, said the combination can help accelerate the adoption of digital printing across the industry, enabling customers to “innovate faster, reduce waste and create lasting value across the entire print ecosystem.”

Frank Pennisi, CEO of EFI, called the combination “a natural next step” that builds on the companies’ existing partnership.

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

DC Advisory acted as exclusive financial advisor to EFI and Siris, and Sidley Austin LLP served as legal advisor.

EFI is a global technology company focused on advancing the transformation from analog to digital imaging, offering printers, inks, digital front ends and workflow software for signage, packaging, textiles and other industrial printing applications.

The Agfa-Gevaert Group, based in Belgium, is an imaging technology company with nearly 160 years of experience. It reported turnover of €1.1 billion in 2025.

Siris, based in West Palm Beach, Florida, is a private equity firm focused on control investments in services businesses that enable transformative technologies to scale. The firm has deployed more than $9 billion of equity capital since inception.

Siris to acquire Active Ownership’s 19.1% stake in Agfa-Gevaert NV

Agfa-Gevaert NV today announced that Siris Capital Group (together with its affiliates, “Siris”) has signed a strategic investment in Agfa-Gevaert NV, to acquire a 19.1% stake currently held by Active Ownership. Terms of the transaction were not disclosed.

The transaction is subject to the closing of the previously announced agreement to combine Agfa’s Digital Printing Solutions business (“Agfa DPS”) with Electronics for Imaging, Inc. (“EFI”), a Siris portfolio company, which in turn is subject to customary regulatory approvals and closing conditions.

Frank Baker, Co-Founder and Managing Partner of Siris, said: “Agfa is a company with nearly 160 years of history, differentiated technical expertise and leading positions across attractive end markets. Through our work with the Agfa team on the EFI-Agfa DPS combination, we have gained an even deeper appreciation for the strength of the business, the quality of its people and the significant opportunities ahead. We are excited to deepen our partnership with Agfa and to serve as a constructive shareholder as the company continues to invest in its growth businesses and build on the transformation underway across the company.”