February 02, 2007—VISTA International, the leading global provider of software systems and support services for the publishing industry, and Ingenta, the technology provider that connects the publishing and information industries, today announce that they have agreed to merge to create Publishing Technology plc, which will be the largest provider of publishing-specific software solutions to the publishing industry.
By combining VISTA's author2reader systems, which cover the complete print publishing supply chain, and Ingenta's online publishing and internet expertise, Publishing Technology plc unites print and online publishing services to provide an unrivalled proposition to publishers. Publishing organisations, both large and small, can improve their bottom line by integrating offline and online content, reducing production and distribution costs, achieving faster speed to market, creating new products and boosting online and digital revenue streams. Ingenta and VISTA's existing business brands, such as VISTA, IngentaConnect, author2reader, Heron and PCG will be retained.
George Lossius, VISTA CEO and CEO designate of Publishing Technology plc, commented: "As electronic products continue to grow in importance to publishers we believe that they will be seeking to invest in the technologies that will harness both their print and electronic products. We believe the industry is looking for a market leader to provide the necessary software products and services and Publishing Technology plc will meet this demand."
Publishing Technology plc will employ approximately 180 people across North America and Europe. The company will have over 350 publishing customers, including eight of the ten largest publishing houses in the world, such as Hachette, Random House, Penguin, and Reed Elsevier and, unlike large international ERP providers, the company will deliver configurable publishing-specific software solutions tailored to its clients. The company will also have 1,000 academic and corporate research library clients, such as Louisiana State University Library and Glaxo SmithKline's research library, and a number of multilateral institution clients, such as the World Bank, the IMF and the OECD.
The Boards of Ingenta and VISTA, with the support of the VISTA shareholders, have entered into an agreement that is expected to complete during February 2007, subject only to Ingenta shareholder approval. Under the terms of the definitive agreement, the companies will start operating as a combined unit from today, and on completion Ingenta will be issuing shares and loan stock, and the current VISTA shareholders will hold approximately 60% of the shares in Publishing Technology plc.
Blue-chip institutional shareholders in the new company include Cazenove, Deutsche Bank and Invesco.
George Lossius, VISTA CEO and Publishing Technology plc CEO designate comments:
"Publishing Technology plc will be the largest provider of publishing-specific software solutions to the publishing industry worldwide and will provide a strongly integrated offline and online suite of products and services that will be unsurpassed in the publishing systems market and will help our publishing and library clients to operate more effectively, efficiently and profitably."
Simon Dessain, Ingenta CEO and Publishing Technology plc COO designate, comments:
"Both organisations have built up considerable brand loyalties within their respective markets, and have strong reputations for delivering reliable solutions to complex problems. Our combined product offering will capitalise on our technological leadership and proven customer service record to help publishers reduce production and distribution costs, achieve faster speed to market, and create new products and revenue streams."
Martyn Rose, Chairman of Ingenta and Chairman designate of Publishing Technology plc, commented:
"This is an exciting positive deal for both companies and for publishing houses, who will be the main beneficiaries of the expanded integrated offline and online services that Publishing Technology will offer. The deal will capitalise on the strengths of both companies and result in a market leader with very strong growth potential."
About VISTA International
VISTA International is the leading worldwide provider of solutions and services for the publishing industry. VISTA is a committed business partner to publishers, distributors and booksellers supported by our systems throughout the world. Our solutions fit all aspects of the publishing value chain, from author care through production, rights and royalties to warehouse and fulfillment - all integrated in an e-business environment, with full access to the analytical power of Publishing Intelligence.
To complement our comprehensive enterprise solutions, the full range of VISTA services include applications implementation, applications management and hosting services, and publishing-specific business consulting, together with lifetime customer support.
VISTA was founded in 1977 and has offices in Europe, North America and the Asia-Pacific region.
Founded in 1998, Ingenta is the global market leader in the management and distribution of published scientific, professional and academic research via the Internet, and develops and maintains specialist websites and technology services for publishers, self-publishing societies and libraries. The IngentaConnect Division provides professional and scholarly publishers and societies with data conversion, secure online hosting, access control and distribution services. IngentaConnect provides libraries and information professionals with comprehensive collection management and document delivery options. The Information Commerce Division provides flexible infrastructure and tools to enable publishers to repackage, bundle or price content online at the click of a button. Ingenta's collection of research content - 20 million articles from more than 10,000 online publications and 20,000 fax and Ariel delivered publications - is accessed by millions of researchers and librarians a month via ingentaconnect.com and other websites. Ingenta is listed on the AIM market of the London Stock Exchange and has offices in Europe and North America. www.ingenta.com