October 16, 2001— Innovative Interfaces, a leader in information technology for libraries, announced today that Jerry Kline, co-founder and CEO, has reached an agreement to purchase the outstanding shares of the company from co-founder Steve Silberstein. Upon closing of the transaction, which is expected by the end of the year, Kline will assume full ownership of the company.
Innovative was founded in 1978 by Kline and Silberstein. Since then, the company has enjoyed steady growth as a result of its introduction of highly functional, high quality library automation products. There are over 900 Innovative systems in use at libraries around the world.
Silberstein said, "I am very proud to have been involved with Innovative for so many years. The achievements of the company have been very gratifying; I believe that Innovative will continue to enjoy great success."
Noting that the transfer in ownership will not have any effect on the company's operations or future product development, Kline added, "We have developed a very successful and stable company in a highly competitive environment, and we are very proud of what we have accomplished. We will continue to provide the best quality software and services to libraries. We wish Steve the best, and thank him for his contributions."