SirsiDynix Acquisition by Vista Equity Partners now Complete
January 17, 2007
Jan. 17, 2007: SirsiDynix, the global leader in strategic technology solutions for libraries, announced today the completion of its acquisition by Vista Equity Partners, a $1 billion private equity firm focused solely on investing in software and technology-enabled businesses.
“SirsiDynix welcomes Vista as our new investment partner, and we look forward to a long and successful relationship,” said SirsiDynix Chief Executive Officer Patrick Sommers. “We believe Vista’s significant investment in the library market validates the contributions our customers and we here at SirsiDynix make every day to the communities we serve.
“It is critical for a software company to innovate and provide world-class customer service,” Sommers said. “For more than 25 years, SirsiDynix has earned the reputation of doing both, and we remain deeply committed to upholding that reputation. With Vista as our partner, we expect to enhance our industry leadership through a disciplined focus on product and service excellence.”
Vista Founder and Managing Principal Robert F. Smith said: “We are pleased the Vista-SirsiDynix transaction closed so quickly and so smoothly. SirsiDynix has established itself as a clear market leader providing mission-critical software solutions. We now look forward to working with the SirsiDynix management team to build upon the company’s tradition of technology leadership in the library market and its dedication to customer service and success.”
Sommers also thanked SirsiDynix’s previous majority investor, Seaport Capital of New York. “Our relationship with Seaport dates back to 1999, and we have made significant progress during that time,” Sommers said.
“This includes taking the company then known as Sirsi through the key mergers and acquisitions of DRA, Docutek and Dynix. The result is a global technology leader with unparalleled resources and unmatched technology offerings. We thank Seaport Capital for its commitment and contribution to those efforts.”
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.