Jerusalem, London and Menlo Park, CA, December 22, 2006 -- Francisco Partners, one of the world's largest technology-focused private equity funds and owner of Ex Libris, a leading global developer and provider of high-performance applications for libraries and information centers, today announced that it has successfully completed its acquisition of Endeavor Information Systems, Inc., an Elsevier company. The acquisition, originally announced on November 21, 2006, under a share purchase agreement, combines Endeavor with Ex Libris. Earlier this year, Ex Libris was acquired by Francisco Partners.
As a result, the combined entity will operate as the Ex Libris Group with its technologies deployed at more than 4,000 customer institutions around the world. The acquisition will also enable Ex Libris Group to invest substantial resources in product development, focusing on existing solutions as well as future offerings, thereby strengthening the company's position as a market leader in the global library software industry.
"We are pleased that this strategic move has been completed in such a short time frame," said Matti Shem Tov, Ex Libris Group president and CEO. "It's a tribute to the collaborative efforts of all the parties involved and serves as a positive prelude to future cooperation within the organization. The combination of these two outstanding companies translates into a bright future ahead for both ALEPH 500 and Voyager. In addition, our shared heritage of providing ground-breaking solutions to academic and research libraries will further enhance our ability to deliver next-generation library products for the discovery, delivery, and management of physical and digital collections."
"For companies to remain competitive, they must adopt a long-term strategy for the marketplace and identify opportunities that will assist them in realizing their vision," commented Andrew Gray, a principal with Francisco Partners. "Through this acquisition, we have formed an organization that is extremely well positioned to address the current needs and anticipate the future requirements of libraries, information centers, and researchers. And with significantly expanded development resources, Ex Libris Group will be able to respond quickly to market trends and customer intelligence, maintaining the high levels of service and support that both Ex Libris and Endeavor customers have come to expect."
The process of integration is already under way. The combined Ex Libris and Endeavor management teams have developed a comprehensive product roadmap, the foundation of which is the decision to support two integrated library systems --ALEPH 500 from Ex Libris and Voyager from Endeavor. New versions of these two flagship systems are scheduled for release in 2007. For more information on the Ex Libris Group's product road map, see the Frequently Asked Questions (FAQ) document at www.exlibrisgroup.com.
The company will operate from offices in the United States (Chicago and Boston), the United Kingdom (London), Germany (Hamburg), France (Paris), Israel (Jerusalem), Korea (Seoul), China (Beijing), and Australia (Adelaide).
About Ex Libris Group
Ex Libris is a leading worldwide developer and provider of high-performance applications for libraries, information centers, and researchers, with installations around the globe. ALEPH 500 and Voyager, the Ex Libris Group's flagship integrated library solutions, are in use at over 3000 sites worldwide. Other products from the Ex Libris suite, deployed at more than 1300 sites, focus on the digital library and offer state-of-the-art, user-centric solutions for managing electronic resources and digital assets and providing informed access to them.
For additional information on Ex Libris, see http://www.exlibrisgroup.com.
About Francisco Partners
With approximately $5 billion of capital under management, Francisco Partners (FP) is one of the world's largest technology-focused private equity funds. The firm was founded to pursue structured investments in technology companies at strategic, technological, and operational inflection points. FP pursues investment opportunities where domain knowledge, strategic insight, and long-term focus generate a differentiated view of investment value and drive superior investment returns. FP makes majority and minority investments in private companies, public companies, and divisions of public companies. The principals of Francisco Partners have a proven track record, having invested in excess of $3 billion of equity capital in over 50 technology companies. For additional information on Francisco Partners, see http://www.franciscopartners.com.