SirsiDynix has announced that it has been acquired by ICV (Inner City Ventures) Partners, am investment firm based in New York that specializes in the growth of small-to-midsize, industry-leading companies. This is exciting news for us as ICV completely supports our mission of creating the Best Library User Experience for our customers.
We are 110% supportive of the direction [SirsiDynix] has charted and are thrilled that we’re now in a position to provide our full support as SirsiDynix looks to accelerate the delivery of their key initiatives,” said Willie Woods, President of ICV Partners. “We are committed to the SirsiDynix team as they continue to innovate products like BLUEcloud, ensuring their customers have access to the best library automation products in the world.”
Taking over from Vista Equity Partners, ICV will play a leading role as the majority shareholder in the company’s direction moving forward.
From the News Release
Vista will maintain a minority equity position in the company.
The change in SirsiDynix’s ownership structure brings the opportunity to revise the board of directors and increase employee ownership. “We’ll be looking for industry veterans to join our board and help the company further its mission to create the best user experience for our customers and their communities,” Davison said. “In addition to a new board structure, we’re also implementing broader employee participation in the ownership of the company. We feel confident that these changes will create additional value for customers, opportunity for employees, and reinforce SirsiDynix’s leadership in the industry.”
ICV acquired SirsiDynix from Vista Equity Partners, a private equity firm that focuses on investing in software, data and technology-based organizations.
The blog post includes a section titled, “So what can you expect?” and it includes this:
Our executive team and staff remain unchanged so you can rest assured knowing that the representatives you speak with today will be the same ones you speak with tomorrow. We anticipate being even better suited to meet your needs, backed by a company driven towards creating value and growth.
We are scheduling customer webinars that will provide a forum for further explanation about this announcement and give you an opportunity to ask questions directly to the management team. Invites will be sent to you soon.
ILS/OPAC guru Marshall Breeding shares his thoughts and analysis in this blog post. (via ALA TechSource)