Meeting on the ledge

(or why I don't get out much…..)

Private Equity gets a foothold at III

According to Marshall Breeding’s highly respected ALA Techsource blog  two private equity companies have acquired holdings in Innovative Interfaces. Therefore the company is no longer controlled exclusively by Jerry Kline, who has run it since 2001 when he bought out the last of his co-investors. The reason why Kline has decided to do this aren’t stated, although he has taken a step back from active management in recent years, and the company’s new LMS Sierra must be taking considerable investment to bring to market.

As a customer of III I’m on the fence as yet whether it is good or bad news. The takeover of Dynix by Seaport and then Vista Equity Partners didn’t turn out well for Horizon users, but Ex Libris seems to be doing well after its purchase by Francisco Partners and then Leeds Equity. III has good relationships with most of its customers and it will have to reassure them that there is no threat, but if it means that Sierra turns out as good a product as promised that will go a long way to keeping them happy and retaining them. The Innovative Users Group Conference is coming up soon in Chicago, so no prizes for the main topic of discussion!

March 2, 2012 Posted by | Libraries | , , , | Leave a comment