Acquisition of Fiery, LLC, a company leading the digitalization of the printing process

- TOKYO, Japan, September 19, 2024 -

Seiko Epson Corporation ("Epson") is pleased to announce that Epson has entered into an agreement with affiliates of Siris Capital Group, LLC ("Siris"), including Electronics for Imaging, Inc., on September 19, 2024 to acquire all interests in Fiery, LLC ("Fiery"), a U.S.-based company which is the leading provider of digital front end^* ("DFE") servers and workflow solutions for the print industry. The transaction is subject to customary closing conditions including required regulatory approvals.

Epson and Fiery each have a long history of supporting customers to maximize their productivity with the use of digital printing technology. Fiery's industry-leading products have enabled the exceptional results that printers have relied on for over three decades, and Fiery's software, server, and workflow solutions will complement Epson's strategic vision and hardware leadership to accelerate the growth of digital printing around the world.

Mr. Yasunori Ogawa, Epson's President and Representative Director said: "We are delighted to welcome Fiery into the Epson Group. We are confident that this agreement will not only drive further growth in our commercial and industrial printing businesses but also accelerate the digital transformation of the analog printing market in innovative way. Together with Fiery, we remain committed to contributing to our customers' success and enhancing corporate value as we pursue new opportunities in the evolving printing landscape."

Mr. Toby Weiss, CEO of Fiery, said: "Epson's acquisition of Fiery showcases the uniquely important role we play in enabling success across the entire print industry. As the leader in DFEs and workflow solutions, Fiery has built a long legacy of empowering OEMs to deliver the best possible results for their customers, and that legacy will be enriched under Epson’s strategic vision. Epson is a legendary company in the print industry, and we are thrilled to join the Epson family to drive the growth of digital printing around the world together."

Mr. Frank Baker, Co-founder and Managing Partner of Siris said: "Siris has had an incredible partnership with Fiery, and Epson is the ideal owner to shepherd the company through its continued journey as a mission-critical technology provider to the printer industry."

^*Digital Front End: A general term for software and hardware used to process print data and manage the printing process.

About the acquisition
The acquisition is expected to close within 2024, subject to necessary regulatory approvals and other customary closing conditions. After the acquisition, Fiery will become part of the Epson group, retain its current name and organizational structure and continue to operate from its existing offices.

About Epson
Epson is a global technology leader whose philosophy of efficient, compact and precise innovation enriches lives and helps create a better world. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson's goal is to become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.
Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of more than JPY 1 trillion.
corporate.epson/en/

About Fiery
Fiery is the leading provider of digital front ends (DFEs) and workflow solutions for the global print industry. With a customer base that includes over 2 million DFEs sold worldwide, Fiery’s industry-leading software and cloud-based technologies deliver the best possible performance, color, and print quality across a broad range of production printing devices.
Fiery's innovative solutions empower commercial print, industrial, packaging, signs and display graphics, ceramics, building materials, textiles, and more. Through over 30 years of excellent support and service, Fiery has built an unmatched community of customers, dealers, and partners.
https://www.fiery.com/

About Siris
Siris is a leading private equity firm that targets control investments in companies that provide mission-critical technology infrastructure. Siris leverages its network of exclusive Executive Partners to identify opportunities and drive strategic and operational value. Siris is based in New York and West Palm Beach and has approximately $7 billion in assets under management as of December 31, 2023.
https://siris.com/

Details of this acquisition has been published on Epson's website as a "Timely Disclosure Information". Please refer to the following link:corporate.epson/en/investors/

Forward-looking Statements
This communication contains "forward-looking statements" relating to the acquisition of Fiery by Epson. Actual events or results may differ materially from these forward-looking statements. Words such as "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "future," "opportunity" "will likely result," "target," variations of such words, and similar expressions or negatives of these words are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words.
Forward-looking statements are neither historical facts nor assurances of future performance and involve risks and uncertainties that could cause actual results to differ materially from those projected, expressed or implied by such forward-looking statements. Although Epson and Fiery believe that the expectations reflected in such forward-looking statements are reasonable, they cannot guarantee future events, results, actions, levels of activity, performance or achievements, business and market conditions and the timing and results of any developments. As a result of such risks and uncertainties, actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Epson and Fiery caution investors not to unduly rely on any forward-looking statements.
The forward-looking statements contained in this release are made as of the date hereof, and Epson and Fiery undertake no obligation to update any forward-looking statements, whether as a result of future events, new information or otherwise, except as expressly required by law. All forward-looking statements in this document are qualified in their entirety by this cautionary statement.