I am happy to announce that Ex Libris has signed an agreement to acquire Innovative.
Founded in 1978, Innovative is a highly respected company with over 40 years of experience in serving public and academic libraries. The company’s complementary software portfolio includes integrated library systems and solutions in the areas of resource sharing, library discovery, digital asset management, and metadata management. As part of the acquisition, Innovative will become a business unit within Ex Libris, reporting to me. Innovative’s products, which customers have been using and relying on for many years, will continue to be supported and enhanced.
This exciting acquisition aligns with emerging trends in our industry, whereby libraries of all types are looking for new ways in which they can increase their value to their immediate and extended environments. We have been hearing from many of you how important it is for your institution to collaborate more closely with your community and the public for the common good. Innovative’s investment in the public library sector will enable us to proactively drive new forms of partnerships and collaboration, helping you expand your contribution to your community.
Our combined expertise will help us accelerate existing initiatives related to library management, discovery, teaching and learning, and research solutions, as well as introduce new ones.
With the addition of Innovative, we will expand our global teams, including Customer Support, Implementation, and Training Services. Our combined expertise will help us accelerate existing initiatives related to library management, discovery, teaching and learning, and research solutions, as well as introduce new ones. For example, together we will be better positioned to serve consortia that have a mix of academic, research, special, and public libraries and advance our recently announced resource sharing initiative.
At the same time, our strategic mission of supporting academic institutions remains in force, and we will continue to execute our product roadmap as planned. We will keep on investing in library services and connecting libraries to teaching, learning, and research through our broad range of higher-ed cloud solutions.
Working together with the Ex Libris community has always been a key part of our culture. We value our close partnership with you and look forward to receiving your input and guidance as we move along this exciting path.
The acquisition is expected to close in early 2020. For more information about this announcement, please see the Frequently Asked Questions document.
As a reminder, until the acquisition closes, the companies remain separate and will conduct business as usual.
I would like to thank each and every one of you for your ongoing partnership with us, and I wish you and your families a happy holiday season.
President, Ex Libris Group
December 5, 2019