Siris sells Fiery to Seiko Epson in strategic move
- Siris has sold Fiery, a leading provider of digital front ends and workflow solutions, to Seiko Epson Corporation for approximately $591 million.
- During its ownership, Siris operationalized Fiery as an independent company and expanded its product portfolio while deepening strategic partnerships.
- The divestiture marks a significant step in Siris' strategy to streamline EFI, allowing both Fiery and EFI to focus on their core markets and drive future growth.
Siris Capital Group, a private equity firm, has completed the sale of Fiery, LLC to Seiko Epson Corporation for approximately $591 million. This transaction, announced on September 18, 2024, is part of Siris' broader strategy to enhance value and streamline operations within its portfolio. Fiery, known for its digital front ends and workflow solutions, was acquired by Siris in 2019 as part of a larger deal involving Electronics for Imaging (EFI). Under Siris' ownership, Fiery was transformed into an independent entity, allowing it to expand its product offerings and strengthen its strategic partnerships. The leadership team at Fiery, under CEO Toby Weiss, has successfully positioned the company as a leader in the digital front end market, which has contributed to its attractiveness as an acquisition target. The sale of Fiery is the second carveout from EFI's portfolio, following the earlier divestiture of eProductivity Software to Symphony Technology Group in 2022. This strategic move not only benefits Fiery by aligning it with a global technology leader like Epson but also allows EFI to focus on its core competencies in industrial inkjet solutions. As a result of these transactions, both Fiery and EFI are expected to pursue growth opportunities in their respective markets, enhancing their capabilities and service offerings to meet the evolving demands of the digital printing industry.