Big Acquisition News! ProQuest is Acquiring Ex Libris
UPDATE: October 6: Haaretz, a leading newspaper in Israel, reports that ProQuest paid an estimated $500 million for Ex Libris.
The terms of the transaction have not been disclosed but it is thought that the purchase price of the company headquartered in Jerusalem is around $500 million.
BIG BREAKING NEWS From Ann Arbor and Tel Aviv! More to Come from LJ.
Here’s the official statement:
ProQuest, an information solutions provider, central to global research, has signed an agreement to acquire Ex Libris Group, a leading global provider of library automation solutions. The capabilities of ProQuest and Ex Libris span expertise in print, electronic and digital content, as well as solutions for library management, discovery and research workflows.
Bringing these complementary assets together will enable ProQuest and Ex Libris to enhance existing products and accelerate innovation of new services to quickly address some of libraries’ most pressing challenges: disparate workflows for print, electronic and digital resources, and navigation of complex and rapidly changing technology, content and user environments. The acquisition is expected to close in the coming months.
“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.”
“Combining our companies enables us to create even more opportunities and choices for libraries — especially our existing customers,” said Oren Beit-Arie, Ex Libris Chief Strategy Officer. “Both ProQuest and Ex Libris are deeply engaged with the global library community and benefit from active, collaborative and forward thinking customers and user groups. Continuing our tradition of cooperation, we are committed to working with our user communities to get input and guidance as we enhance current solutions and create new ones.”
Both companies will continue their longstanding commitment to openness and collaborations with other organizations in the industry, including OCLC, Google, Gale Cengage, HARRASSOWITZ and YBP/EBSCO, for the benefit of customers.
After closing, ProQuest and Ex Libris will form a distinct business unit called Ex Libris, a ProQuest Company. This unit will be led by Mr. Shem-Tov, and supported by the Ex Libris management team along with ProQuest Workflow Solutions management. ProQuest and Ex Libris will continue to support the broad selection of products their customers depend on and will enhance each company’s offerings, including Alma, Aleph, bX, Intota, Primo, Rosetta, SFX, SIPX, Summon, 360 Link, Voyager and the newly launched Leganto reading list solution and campusM mobile campus solution.
FAQ About Acquisition
Additional Info About the Acquisition in this ProQuest Blog Post
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. He earned his MLIS degree from Wayne State University in Detroit. Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com. Gary is also the co-founder of infoDJ an innovation research consultancy supporting corporate product and business model teams with just-in-time fact and insight finding.