Francisco Partners to Acquire Endeavor Information Systems from Elsevier
Endeavor to be merged with Ex Libris, to create global leader in library software and services
Menlo Park, London, Chicago, Amsterdam, Jerusalem, November 21, 2006 - Francisco Partners, one of the world's largest technology-focused private equity funds, today announced that it has entered into a definitive agreement with Elsevier for the acquisition of 100% of the shares of Endeavor Information Systems, Inc., an Elsevier company. Endeavor will be merged with Ex Libris, which was acquired by Francisco Partners earlier this year. The combined entity will be a leading force in the library software and services marketplace and will retain the Ex Libris Group name and be headed by Matti Shem Tov, president and chief executive officer of Ex Libris.
The acquisition of Endeavor will establish the new Ex Libris Group and its portfolio of library systems and services as the clear choice for libraries seeking proven solutions that are both forward looking and cost effective. In the coming years, the company will continue the development and support of flagship integrated library systems from both companies, Ex Libris ALEPH® 500 and Endeavor’s Voyager®. New versions of both systems will be released as planned in 2007. The Ex Libris and Endeavor management teams will be working closely over the coming weeks, in consultation with industry leaders and customers, to complete the roadmap for the combined product portfolio.
Together, the Ex Libris and Endeavor customer communities include nine of the top ten universities in the world and 39 of the top 50, according to Newsweek International Edition ("The Top 100 Global Universities"); 25 national libraries; and five of the six largest libraries in the world.
"Today we are combining two market-leading companies to create the most powerful library software portfolio in the industry," said Matti Shem Tov, Ex Libris Group president and CEO. "Leveraging the extensive experience and technologies as well as the dedicated, skilled staff of both companies, we will now be even better equipped to provide our customers with next-generation library products. We welcome Endeavor's customers to the Ex Libris community and, with this important acquisition, look forward to delivering significant value for our combined customer base."
"The decision to seek a new owner for Endeavor business was made after we carefully considered the rapid pace of change in the library software and services marketplace," said Herman van Campenhout, CEO, Elsevier Science & Technology. "Based on that review, we concluded that Endeavor, its employees, and its customers will greatly benefit from becoming part of a company, such as Ex Libris, that is solely focused on leading the library software market."
Andrew Gray, a principal with Francisco Partners, commented, "Ex Libris and Endeavor are natural partners. With joined forces, the Ex Libris Group will carry on the two companies' longstanding tradition of collaborating with libraries and industry stakeholders to establish industry standards and will continue to deliver solutions that best serve the needs of libraries, information centers, and researchers."
"This is an exciting time for Ex Libris and Endeavor as it represents the coming together of two strong and visionary organizations," noted Endeavor CEO Roland Dietz. "With our joint research and development, we will be better positioned to bring leading edge solutions to market more quickly while continuing to build upon our foundation of high quality service and partnership with our respective customers."
About Francisco Partners
With approximately $5 billion of capital under management, Francisco Partners (FP) is one of the world's largest technology-focused private equity funds. The firm was founded to pursue structured investments in technology companies at strategic, technological, and operational inflection points. FP pursues investment opportunities where domain knowledge, strategic insight, and long-term focus generate a differentiated view of investment value and drive superior investment returns. FP makes majority and minority investments in private companies, public companies, and divisions of public companies. The principals of Francisco Partners have a proven track record, having invested in excess of $3 billion of equity capital in over 50 technology companies.
For additional information on Francisco Partners, see http://www.franciscopartners.com.
About Ex Libris
Ex Libris is a leading worldwide developer and provider of high-performance applications for libraries, information centers, and researchers, with installations in 64 countries. ALEPH® 500, the Ex Libris integrated library solution, is in use at over 1700 sites worldwide. Other products from the Ex Libris suite, deployed at over 1000 sites, focus on the digital library and offer state-of-the-art, user-centric solutions for managing, and providing informed access to, electronic resources and digital assets.
For additional information on Ex Libris, see http://www.exlibrisgroup.com.
About Endeavor Information Systems
Since 1994, Endeavor Information Systems Inc. has pioneered the development of advanced library management software systems. In use at more than 1600 institutions worldwide, Endeavor’s full suite of products offer superior functionality coupled with intuitive interfaces that increase usability and efficiency.
For additional information on Endeavor Information Systems, see http://www.endinfosys.comAbout Elsevier
Elsevier is a world-leading provider of information solutions that enhance the performance of science, health, and technology professionals, empowering them to make better decisions, deliver better care, and sometimes make groundbreaking discoveries that advance the boundaries of knowledge and human progress. Elsevier provides web-based, digital solutions — among them ScienceDirect, Scopus, Elsevier Research Intelligence, and ClinicalKey — and publishes nearly 2,200 journals, including The Lancet and Cell, and over 25,000 book titles, including a number of iconic reference works.
The company is part of Reed Elsevier Group PLC, a world leading provider of professional information solutions in the Science, Medical, Legal and Risk and Business sectors, which is jointly owned by Reed Elsevier PLC and Reed Elsevier NV. The ticker symbols are REN (Euronext Amsterdam), REL (London Stock Exchange), RUK and ENL (New York Stock Exchange).
Endeavor Information Systems: