Press Release: SirsiDynix [December 27, 2006]

SirsiDynix announces investment partnership with Vista Equity Partners

Copyright (c) 2006 SirsiDynix

SummarySirsiDynix announced it has signed a definitive agreement to be acquired by Vista Equity Partners, a $1 billion private equity firm focused solely on investing in software and technology-enabled businesses.

HUNTSVILLE, Ala., Dec. 27, 2006 - SirsiDynix, the global leader in strategic technology solutions for libraries, announced today it has signed a definitive agreement to be acquired by Vista Equity Partners, a $1 billion private equity firm focused solely on investing in software and technology-enabled businesses.

For more than 25 years, SirsiDynix has been providing libraries with the software and services that are critical to managing their operations. Vista is very impressed with SirsiDynix's portfolio of solutions, employees, large customer base and the opportunities that lie ahead for the company. Vista is excited to work with the management team of SirsiDynix to continue its record of success.

"The SirsiDynix-Vista partnership is an important milestone for our company," said SirsiDynix Chief Executive Officer Patrick Sommers. "We've become a stronger company over the past five years through a continual focus on delivering products and services that meet the strategic needs of libraries. Vista has an extremely successful track record of building leading software businesses, and we look forward to working with them to make SirsiDynix an even stronger company in the future."

Vista Founder and Managing Principal Robert F. Smith said: "We are long-term investors in technology companies that are committed to market leadership. We are tremendously excited about working with SirsiDynix because it is clearly the market leader with a suite of mission-critical software solutions. We look forward to working with the management team to deliver to libraries the solutions they need to fully pursue the opportunities that are available to them."

Sommers added that SirsiDynix will continue its focus on product innovation and excellence in customer service. "Vista and the management team are excited about the library industry, SirsiDynix's position within it and the opportunities that lie ahead for both," Sommers said.

The deal is expected to become final in mid-January following a regulatory review. Terms of the agreement were not released.

About SirsiDynix

SirsiDynix is the global leader in strategic technology solutions for libraries - vital institutions whose primary mission is to make sense of the vast world of information for people and communities. This is an exciting role as libraries assist people in discovering and using knowledge, resources and other valuable content for their educations, jobs and entertainment. In concert with key industry partners, SirsiDynix supports this strategic role for libraries by offering a comprehensive integrated suite of technology solutions for improving the internal productivity of libraries and enhancing their capabilities for meeting the needs of people and communities. SirsiDynix has approximately 4,000 library and consortia clients, serving more than 300 million people through more than 20,000 library outlets in the Americas, Europe, Africa, the Middle East and Asia-Pacific. For more information, please see www.sirsidynix.com.

About Vista Equity Partners

Vista Equity Partners (www.vistaequitypartners.com) is a private equity firm with $1 billion in capital focused on investing in dynamic, successful software and technology-enabled businesses. Vista seeks to partner with world-class management teams who have a long-term perspective and are committed to maintaining leadership in their markets. Vista is a value-added investor, contributing professional expertise and multi-level support enabling companies to realize their full potential. Vista's investment approach is anchored by its long-term capital base, as well as its experience in structuring software and technology-oriented transactions and in providing proven management techniques to its portfolio companies.

Publication Year:2006
Type of Material:Press Release
LanguageEnglish
Issue:December 27, 2006
Publisher:SirsiDynix
Place of Publication:Huntsville, AL
Company: SirsiDynix
Vista Equity Partners
Subject: Mergers and acquisitions
Permalink: http://www.librarytechnology.org/ltg-displaytext.pl?RC=12313
Record Number:12313
Last Update:2012-12-29 14:06:47
Date Created:2006-12-27 20:10:21