EFI and Agfa combine industrial inkjet units to form €540m pro forma business

EFI and Agfa-Gevaert have agreed to combine Agfa's Digital Printing Solutions (DPS) business with EFI to form a single industrial inkjet company. The new group is expected to produce roughly €540 million (approximately £468 million) in pro forma revenue in 2026. The arrangement builds on a partnership the companies established in 2024.

An affiliate of Siris, the owner of EFI, will hold a 60% interest in the combined company. Agfa will hold the remaining 40%. Despite the uneven ownership, Siris and Agfa will act as equal partners in the company's governance structure.

The combined business will bring together EFI's and Agfa DPS's installed product lines and technologies. EFI contributes platforms including Nozomi, Vutek and Reggiani, which cover single-pass systems for corrugated packaging as well as roll-to-roll, hybrid and textile printing systems. Agfa DPS contributes the Jeti Tauro, Onset Panthera and SpeedSet Orca ranges, with strengths in display graphics, décor and packaging.

Beyond hardware, the new company will draw on print engines, inks, software and workflow capabilities, backed by a global sales and service network. The combined footprint will serve thousands of customers across more than 100 countries and is intended to expand cross-selling opportunities and access to new applications and markets.

EFI and Agfa began a technology partnership in 2024 that allowed each to access complementary technologies and broaden product offerings. The current transaction is presented by both companies as the next step to deepen that cooperation and accelerate innovation and market reach.

The companies expect the transaction to close by the end of 2026. The completion is conditional on employee information and consultation processes, regulatory approvals and other customary closing conditions.

What this means for customers and the market

Customers will see a larger combined product portfolio spanning multiple industrial inkjet segments: corrugated packaging, display graphics, décor, textiles and traditional roll-to-roll and hybrid print. The arrangement is positioned to increase global service coverage and provide broader solutions across print engines, inks and workflows.

Pascal Juéry, CEO of Agfa-Gevaert, described the move as a decision to pursue growth through partnership rather than keeping DPS as a standalone business, and said the combination will provide greater scale and innovation capability. Frank Pennisi, CEO of EFI, framed the combination as a natural next step that builds on complementary technologies and teams to accelerate innovation and expand customer solutions.

• Employees: the transaction requires information and consultation processes.
• Customers: expect expanded product and service options as the combined portfolio is marketed.
• Regulators: approvals are needed before closing.

This deal consolidates two established industrial inkjet portfolios under a new company jointly governed by Siris and Agfa. The combined revenue scale, product breadth and global reach are presented as the commercial rationale, with completion targeted by year-end 2026 pending consultations and approvals.