EFI and Agfa DPS expect about $625 million in combined 2026 revenue on a pro forma basis
MORTSEL | Belgium and LONDONDERRY | New Hampshire – September 2026 – EFI (Electronics for Imaging, Inc.), an industrial inkjet business and portfolio company of Siris, and Agfa-Gevaert (Agfa) have signed a definitive agreement to combine Agfa’s Digital Printing Solutions business (Agfa DPS) with EFI. An affiliate of Siris will hold 60% of the new company and Agfa will hold 40%. Siris and Agfa will act as equal partners under the governance structure.
The deal builds on the global partnership EFI and Agfa formed in 2024, which gave both companies access to each other’s technologies and expanded their product offerings.
Two Portfolios, One Platform
The combined company will cover the fastest-growing segments of industrial inkjet, with expertise in print engines, inks, software and workflow — all backed by a global service network.
EFI brings strength in digital single-pass printing for corrugated packaging, plus roll-to-roll, hybrid and textile printers through its Nozomi, VUTEK and Reggiani platforms. Agfa DPS brings strength in display graphics, décor and packaging, with a recently renewed lineup that includes the Jeti TAURO, Onset PANTHERA and SpeedSet ORCA platforms.
Scale and Reach
On a pro forma basis, EFI and Agfa DPS expect about €540 million ($625 million) in combined 2026 revenue. The company will serve thousands of customers in more than 100 countries, with complementary strengths in North America and Europe. The partners expect synergies from cross-selling, greater scale and access to new applications and markets.
What the Leaders Say
“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.”
“Since our investment in EFI in 2019, we have supported the company’s evolution into a focused industrial inkjet leader, drawing on our experience helping technology and industrial businesses scale,” said Frank Baker, Co-Founder and Managing Partner, and David Calamai, Managing Director, of Siris. “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. We look forward to partnering with Agfa to accelerate innovation and expansion for customers worldwide.”
“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.”
“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.”
Timeline
The transaction is expected to close by the end of 2026, subject to employee information and consultation processes, regulatory approvals and customary closing conditions. DC Advisory served as exclusive financial advisor to EFI and Siris, and Sidley Austin LLP served as legal advisor.
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