US information solutions company ProQuest is in the process of acquiring the Ex Libris Group, an Israeli software company owned by Golden Gate Capital. Market insiders place the value of the deal, which will be concluded in the coming months, at some $500 million.
The two companies believe their complementary capabilities in print, electronic, and digital content will allow them to improve their existing products and accelerate their innovation efforts to provide better solutions for the central challenges faces by academic libraries like the shift away from print to content management in a digital age.
“We are excited to have Ex Libris join ProQuest and welcome its proven track-record of innovation on behalf of libraries. One great example of their expertise in action is the success of Ex Libris’ Alma unified resource management solution in helping hundreds of institutions worldwide improve their libraries’ value to their users,” said Kurt Sanford, ProQuest CEO. “Together, the companies will build on and create more groundbreaking library services, bringing additional value to our customers and the broader industry.”
“The acquisition of Ex Libris by ProQuest enriches our commitment to the global library community and will enhance our ability to carry out our product roadmaps and strategies,” said Matti Shem-Tov, Ex Libris CEO. “The combined talent and expertise of ProQuest and Ex Libris will enable more efficient development and support of our leading solutions, and will accelerate innovation in both current and new products. We will identify opportunities to deliver the best of what both companies have to offer by expanding key features in resource management, knowledge base capabilities and discovery services to enhance existing products.”
Ex Libris, which provides software solutions for libraries, has more than 500 employees in Israel and was sold to Golden Gate Capital in 2012 for some $250 million.
The Israeli company began its way in the mid-1980s, when it was founded as a project of Hebrew University to develop catalogue solutions for its libraries and research centers. But in 2006 the company changed direction, after the original shareholders Hebrew University and venture funds Tamar and Walden decided to sell to Francisco Partners for $62 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 6, 2015
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