San Francisco-based private equity fund Golden Gate Capital has acquired library software solutions developer Ex Libris Ltd. from New York-based Leeds Equity Partners LLC. No amount was disclosed but Golden Gate are believed to be paying $250-300 million.
Leeds acquired Ex Libris in 2008 from Francisco Partners, who had bought the company in 2006 for $45 million.
Ex Libris will remain an independent business based in Jerusalem, run by its current management, under president and CEO Matti Shem Tov.
Shem Tov said, “Ex Libris is proud to join Golden Gate Capital, whose software portfolio represents, on a consolidated basis, the sixth largest software company globally. Golden Gate Capital’s positive assessment of Ex Libris reaffirms our customers’ and management’s confidence in the strength of the company, its products, and its future strategy. Golden Gate Capital’s deep technology experience and financial resources will support our continued growth as we carry on developing our software and data services and extending our geographic reach."
Golden Gate Capital managing director Jake Mizrahi said, “Ex Libris is a dynamic and accomplished leader in the library software marketplace. The company has successfully carried out an impressive transition to cloud-computing technology and to a new business model while continuing to sell and support local and hybrid installations of its solutions."
Ex Libris develops automation solutions for academic, national, and research libraries, for electronic, digital, and print materials. The company has customers in more than 80 countries.
Published by Globes [online], Israel business news - www.globes-online.com - on November 18, 2012
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