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World leader In library software sells company stock to key employees

Press Release: Mandarin Library Automation [August 31, 2007]

Copyright (c) 2007 Mandarin Library Automation

Abstract: Leo Lazo, President of Mandarin Library Automation, Inc., has announced that as of July 1, 2007, he and two other major management team members, Christine DiVito, Comptroller and Art Graham, Vice President of Technical Services, have acquired 50 percent of Mandarin's stock from EGEG Holdings, led by Elliot and Eleanor Goldstein.


BOCA RATON, FL Leo Lazo, President of Mandarin Library Automation, Inc., has announced that as of July 1, 2007, he and two other major management team members, Christine DiVito, Comptroller and Art Graham, Vice President of Technical Services, have acquired 50 percent of Mandarin's stock.

The company, which brings state-of-the-art automation solutions, technical services and training to libraries throughout the world, has been wholly-owned since 1995 by EGEG Holdings, led by Elliot and Eleanor Goldstein.

"A succession plan has been put in place and as new equity owners, we have a huge stake in the company's success and growth," said Lazo, who has been with the company since 1983.

"The three of us, all long-time leaders in the company, are committed to continuing not just the development of our flagship software products, M3 and Oasis, but also to building our strong and long-lasting customer relationships with libraries throughout the world," he explained.

Lazo added Elliot Goldstein, Chairman of Mandarin's Board of Directors, will continue as a key leader of the company.

About Mandarin Library Automation, Inc.

Recognized as a leading software developer and hardware provider, Mandarin Library Automation (MLA) has been delivering turnkey library automation solutions to thousands of school, public, academic and corporate libraries in over 50 countries since 1995. Founded upon a solid foundation of experience, technological expertise and service-oriented relationships, MLA is committed to serving its customers worldwide reliably and affordably over the long term.

Publication Year:2007
Type of Material:Press Release
LanguageEnglish
Issue:August 31, 2007
Publisher:Mandarin Library Automation
Company: Mandarin Library Automation
Subject: Mergers and acquisitions
Permalink: http://librarytechnology.org/ltg-displaytext.pl?RC=12711
Record Number:12711
Last Update:2012-12-29 14:06:47
Date Created:2007-08-31 11:27:04