Fiery is now an independent company wholly owned by the investment fund Siris. Siris-owned U.S. inkjet press manufacturer Efi is spinning off its digital front end (DFE) business unit. Frank Pennisi, president of California-based packaging supplier Orora Packaging Solutions, has been named CEO of Efi.
"This realignment positions both Efi, which is now focused solely on digital inkjet for industrial applications, and Fiery, the world's leading DFE supplier, to win in their independent markets while maintaining the close partnership that has contributed to each company's success." says Jeff Jacobson, former CEO of Efi, who becomes executive chairman of each company, in a statement.
Efi will be completely dedicated to industrial inkjet for the packaging and corrugated, display, textile and building/decorative materials end markets. The company's headquarters are being moved from Silicon Valley, California to Londonderry, New Hampshire, where its inkjet facility is located.
And as an independent company, Fiery will continue to provide DFEs for digital production and industrial printing. "Fiery will remain focused on working closely with our OEM partners, such as Efi's inkjet business, to continue to develop cutting-edge technology that will lead to the next generation of automation, accuracy and cost effectiveness in digital printing." says Toby Weiss, former general manager of Fiery who becomes its CEO.
December 2020, Efi had also divested eProductivity Software, its productivity software business by selling it to a subsidiary of Symphony Technology Group. Efi's 2021 revenue (with Fiery) was about $670 million, according to Moody's.
