12.03.2024
As previously announced in the “Notice on the Acquisition of Equity Interest in Fiery, LLC (Specified Subsidiary)” dated September 19, 2024, Seiko Epson Corporation (“Company”) had resolved at a meeting of the Board of Directors to acquire all equity interests of Fiery, LLC (“Fiery”) and making it a subsidiary of the Company. The Company hereby announces that as of December 2, 2024, the procedures to acquire all equity interest of Fiery held by Electronics for Imaging, Inc. and an affiliate of Siris Capital Group, LLC has completed. As the amount invested in Fiery is more than 10% of the Company’s capital, therefore, Fiery will become a specified subsidiary of the Company.
1. Details of Fiery
(1) Name Fiery, LLC
(2) Location 6453 Kaiser Drive, Fremont, CA 94555 USA
(3) Job title and name of representative Chief Executive Officer, Toby Weiss
(4) Description of business Digital Printing Software Solutions
2. Date of acquisition
December 2, 2024
3. Acquisition cost
USD 568.7 million (approx. JPY 85.3 billion)
* USD 1 = JPY 149.98 (exchange rate as of November 29, 2024)
* The amount above excludes advisory fees and related costs.
4. Future outlook
The Company plans to include Fiery in the Company’s consolidated financial results from the third quarter of the fiscal year ending March 31, 2025. The impact of this acquisition on our future business performance is currently under scrutiny, and the Company will promptly announce any matters that should be publicly announced.
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.
