BOSTON--(BUSINESS WIRE)--Aug. 10, 2005--Lane, Berry and Co. International, LLC, an independent investment banking firm providing sophisticated, objective advice and transaction execution based upon the extensive experience of its senior bankers, announced today that it served as exclusive financial adviser to Sirsi Corporation with respect to its recently completed merger with Dynix Corporation. The merger creates SirsiDynix, a single company positioned more strongly to develop and deliver leading-edge information technology solutions for public, school, academic, special, corporate and governmental libraries and consortia around the world. Terms of the transaction were not disclosed.
Together, Sirsi and Dynix have 4,000 library and consortia clients around the world, serving more than 200 million people through more than 20,000 library outlets located in more than 40 countries. With 725 employees worldwide, the company maintains operations in the Americas, Europe, Africa, the Middle East, and Asia-Pacific. Additional information about the merger of these two privately-held companies can be found on Sirsi's website, www.sirsi.com.
Patrick C. Sommers, CEO of SirsiDynix said, "We're bringing together two solid companies with 20+-year track records to create a global organization that offers the library community unparalleled technical expertise, the broadest array of products and services, and unmatched service and support. As a single company, we are truly poised to deliver more than either company could have done on its own. Lane Berry served as our trusted advisor and was instrumental in assisting our senior management team and board of directors with this significant merger."
David Clark, Director of Lane Berry's Technology Banking Group said, "As the traditional library model evolves with the advent of new technologies, SirsiDynix is now strongly positioned to lead the library solutions market into this period of opportunity and change."
"A Lane Berry investment banking team has been working alongside Sirsi and its management team for quite a while, committed to building a long-term, advisory relationship," said Frederick C. Lane, Chairman and CEO of Lane Berry. "Our team leveraged its in-depth knowledge of the software and education industries, its extensive mergers and acquisitions experience, offered creative solutions, and provided hands-on execution assistance, all critical competencies necessary to drive a successful transaction. We are gratified that Lane Berry was able to deliver significant value to Sirsi and to its institutional shareholders led by Seaport Capital."
Tim Walsh, Managing Director and Head of Lane Berry's Technology Banking Group commented, "The combination of Sirsi and Dynix is another merger that Lane Berry served as financial adviser for where technology was the strategic rationale driving the transaction. Lane Berry has built an impressive track record of significant technology combinations including: MCI's acquisition of Digex, Boston Communication Group's acquisition of PureSight, McKesson's acquisition of IntelliClaim, and Metavante's pending acquisition of Med-i-Bank (MBI)." Additional information regarding these and other Lane Berry transactions can be found on Lane Berry's website, www.laneberry.com.
Headquartered in Huntsville, Alabama and founded in 1979, Sirsi Corporation develops, sells, and supports a comprehensive integrated suite of software solutions for meeting the information management and sharing needs of libraries and library users around the world. From the open, evolutionary integrated library system technology in the Sirsi Unicorn Library Management System... to leading-edge data analysis and intelligence tools in Sirsi Director's Station... to leading-edge solutions such as Sirsi Rooms 2.0 for library users seeking unparalleled access to the world of knowledge... Sirsi and its partners provide the broadest array of information management products and services for the library community. Sirsi solutions serve more than 10,000 libraries in the Americas, Europe, Africa, the Middle East, and Asia-Pacific. For more information about Sirsi, please see www.sirsi.com.
Headquartered in Provo, Utah, Dynix is the global leader in new-name sales of library management systems and has the largest installed customer base of any library technology vendor. As a committed advocate of the library community, Dynix serves academic, special, school, public, and consortium libraries in over 40 countries. Dynix has more than 100 professional librarians on staff and proven experience in software leadership. Since 1983, Dynix has provided customers visionary technology solutions that support the latest industry standards and offer intuitive functionality. For complete corporate information and a guide to Dynix products and services, visit www.dynix.com.
About Seaport Capital
Founded in 1997, Seaport Capital is a private investment firm with $400 million of capital under management. With over 75 years cumulative experience investing in middle market companies, the firm provides equity capital for growth, recapitalizations and buyout opportunities for media, communications, and information and business services companies with market capitalizations under $200 million. For more information on Seaport Capital and its portfolio companies, see www.seaportcapital.com.
About Lane Berry
Lane, Berry & Co. International, with offices in Boston, New York and Denver, provides investment banking services to corporations, their Boards and Special Committees of Boards on matters relating to mergers, acquisitions, divestitures, debt and equity financings, debt restructurings, recapitalizations and corporate governance issues. Lane Berry offers sophisticated, objective advice and transaction execution based upon the extensive experience of its senior investment bankers. For more information about Lane Berry's services, transactions and recruitment opportunities, visit www.laneberry.com.