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LIBERO acquired by Knosys

Smart Libraries Newsletter [September 2021]

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Knosys Limited, a Melbourne-based company specializing in software-as-a-service information systems, has acquired the LIBERO library management system. This acquisition represents a change from founder-led ownership and management to become part of a public company with diverse SaaS products. Knosys, while not previously involved in the library technology sector, has extensive experience in delivering technology into the banking, telecommunications, and health sectors.

LIBERO was developed by Insight Informatics, based in Brisbane, Australia, and is used by many public, academic, corporate, and special libraries throughout Australia, the European Union, the United Arab Emirates and other GCC countries, as well as Mauritius. The system is also used by many libraries in Germany, supported through its distributor LIBERO IS GmbH. A total of 450 library locations have implemented the LIBERO library management system. LIBERO does not have a US presence at this time. However, the acquisition opens up the opportunity for the company to enter and gain a foothold in this market, especially because Knosys brings the necessary management structure and already has personnel in the US.

Insight Informatics was founded in 1985 by Sam Patane, who leads the company as its managing director. At the time of the acquisition, the company had 17 employees and annual recurring revenue of $2.2 million Australian.

Details of the Acquisition

Knosys purchased LIBERO for a total of $5 million, split between $4 million cash to the owners and an additional $1 million in Knosys stock. Knosys Limited is a public company, traded on the Australian Securities Exchange (ASX:KNO). The company is led by John Thompson, who has served as its managing director since July 2016. The acquisition is expected to close by the end of August 2021.

Knosys was founded in 2013 to continue development and commercialize the knowledge management product that was created starting in 2008 in partnership with Australia and New Zealand Banking Group as its initial client and development partner. The company was listed on the Australian Securities Exchange beginning in September 2015.

The company's original product, KnowledgIQ, is an enterprise level knowledge management solution, used across multiple business sectors including banking, telecommunications, and government agencies. The company expanded its product portfolio in December 2020 with the acquisition of GreenOrbit, and its technology suite for managing content for organizational intranets.

Knosys is a mid-sized company, with about $8 million (AUS) annual revenue, including that from LIBERO. The company has about 380 institutional clients across its product lines.

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Publication Year:2021
Type of Material:Article
Language English
Published in: Smart Libraries Newsletter
Publication Info:Volume 41 Number 09
Issue:September 2021
Page(s):6
Publisher:ALA TechSource
Place of Publication:Chicago, IL
Company: LIBERO
Subject: Mergers and Acquisitions
ISSN:1541-8820
Record Number:26697
Last Update:2022-11-27 01:39:28
Date Created:2021-09-17 09:36:52
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