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(r) 500 and Endeavor's Voyager(r). 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."
Messages and opinions expressed on Hasafran are those of the individual author
and are not necessarily endorsed by the Association of Jewish Libraries (AJL)
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