EFI acquires Optitex in $52 million deal

Optitex’s solutions are aimed at saving time and costs in the textile industry work and buying process

EFI

 

Israel based Optitex, which develops 3D software solutions for the textile industry, has been acquired by Nasdaq-listed company Electronics For Imaging (EFI) for $20 milliona in cash. The total value of the acquisition is $52.8 million.

Following the deal, Optitex will be integrated into EFI’s software solutions business unit.  Annual cash earnout payments will be made over three years totaling $32.8 million. Optitex has offices in the US, Italy, India, and Hong Kong.

Optitex’s technology combines 2D and 3D systems to streamline processes for designing and developing products and is aimed at retailers, manufacturers, and fashion brands. It shortens the time-to-market for products, reduces development costs and enhances sales & marketing activities through its generation of 3D content. Users can type in precise measurements to determine their look in real-time.

Founded by Israeli Efi Arazi, EFI is an international company based in Silicon Valley that specializes in digital printing technology.

Asaf Landau, CEO of OptiTex: “We are thrilled to add the OptiTex team and its fast-growing base of industry-leading customers to the EFI family, ” said

Gabriel Matsliach, senior vice president and general manager, EFI Productivity Software:. “Optitex technology, combined with EFI Reggiani digital printers, will expand our textile ecosystem and help our customers set new standards for time-to-market, on-demand manufacturing, cost efficiency and automation in the Textile industry.”

 

 

 

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