3M Sells Off Library Systems Division to Bibliotheca
Bibliotheca is excited to announce that their shareholders, One Equity Partners (OEP), today completed the purchase of 3M Library Systems North American business, and entered into agreements to purchase the assets of 3M’s remaining global Library Systems business.
Going forward, Bibliotheca will combine with the former 3M Library Systems business and will transition it to a single Bibliotheca brand. The new Bibliotheca Group is committed to continued investment in products and staff and will continue to expand into new regions with innovation-led products.
The completed sale transfers 3M’s former North America Library business, including the security (EM), productivity (RFID & AMH) and cloud (eBooks) solutions, all of which will be joined with the existing Bibliotheca product set to create the single largest ‘best of breed’ solution set globally.
The sale of the library systems division ends 3M’s 40 years in a business that had grown to $100 million in annual sales.
“After a thorough strategic review, we have decided to exit the Library Systems business and focus on our core businesses such as reflective traffic safety and vehicle identification solutions, and our public security identification and monitoring portfolio,” said John Riccardi, the vice president and general manager of 3M’s Traffic Safety and Security Division.
About Gary Price
Gary Price (firstname.lastname@example.org) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.