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 Elsevier
Elsevier is a world-leading publisher of
scientific, technical and medical information products and services. Working
in partnership with the global science and health communities, Elsevier’s
7,000 employees in over 70 offices worldwide publish more than 2,000 journals
and 1,900 new books per year, in addition to offering a suite of innovative
electronic products, such as
ScienceDirect,
MD Consult,
Scopus,
bibliographic databases, and online reference works.
Elsevier is a global business
headquartered in Amsterdam, The Netherlands and has offices worldwide.
Elsevier is part of
Reed Elsevier Group
plc, a world-leading publisher and information provider. Operating in the
science and medical, legal, education and business-to-business sectors, Reed
Elsevier provides high-quality and flexible information solutions to users,
with increasing emphasis on the Internet as a means of delivery. Reed
Elsevier's ticker symbols are REN (Euronext Amsterdam), REL (London Stock
Exchange), RUK and ENL (New York Stock Exchange).
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.com.
Media Contacts
Endeavor Information Systems:
Randy
Frink
+1.847.227.4839
randy.frink@endinfosys.com
Ex Libris Group:
Nancy
Dushkin
+1.617.202.2801
nancy.dushkin@exlibrisgroup.com
