February 4, 2003 -- BIRMINGHAM, Ala., U.S.A. and PARIS, France. EBSCO Industries, Inc., the global leader for the delivery of integrated information systems and services, has executed definitive agreements to acquire the European operations of RoweCom/divine Information Services.
This acquisition allows RoweCom/divine Information Services to continue operations in Europe, and particularly in France, where the Tribunal of Commerce of Evry on Monday, February 3, 2003 removed a declaration of suspension of payment that RoweCom filed on January 23, 2003. The acquisition is subject to approval by French anti-trust authorities, and upon validation of the merger of the two companies, EBSCO will proceed to facilitate payment to the publishers for publications provided to customers of RoweCom Europe. Until then, EBSCO is asking publishers to continue to fulfill subscriptions to RoweCom/divine Information Services customers. The majority of the publishers have already expressed their support of this arrangement and confirmed their agreement to fulfill subscriptions.
"We are certainly pleased to complete this acquisition. The merger will substantially strengthen EBSCO's commitment to our subscription business in Europe. Our primary mission now is to team with the RoweCom Europe staff to diligently work with customers and publishers to ensure customers continue to receive the service they have enjoyed in the past," said F. Dixon Brooke, Jr., vice president and division general manager of EBSCO Subscription Services. "EBSCO and RoweCom Europe will be in contact with customers and publishers to more fully explain the situation," Brooke said.
About EBSCO Industries, Inc.
EBSCO Industries, Inc. is a global corporation with sales, service and manufacturing subsidiaries at work in 19 countries around the world. EBSCO's business interests include information management services, online and print journal subscription services, online research databases, real estate development, commercial printing and more. EBSCO, an acronym for Elton B. Stephens Company, is based in Birmingham, Alabama and employs 4,000 people around the world. Additional information on EBSCO Industries is available from www.ebscoind.com.
About RoweCom/divine Information Services
RoweCom, acquired by divine in November 2001, offers a wide range of content sources and innovative technologies and provides information specialists, particularly in the library, with complete solutions serving all their information needs, in print or electronic format. RoweCom/divine Information Services is the market leader in France and employs 160 people for a 2001 turnover in excess of EURO 100 million.