This is the full text of an email sent to customers from Innovative CEO Shaheen Javadizadeh.
We are excited to announce that Innovative has signed an agreement to be acquired by Ex Libris, a ProQuest company. Ex Libris is a global provider of cloud-based solutions that enable libraries to increase productivity, maximize the impact of research activities, enhance teaching and learning, and drive student engagement. The Innovative team is looking forward to joining an organization that shares our vision of innovating for our customers and for the library industry.
What does this mean for you, our customer?
Being part of Ex Libris will enable us to deliver a wider set of choices for you—additional platforms and complementary solutions, as well as enhanced support—while maintaining our existing services and collaboration with the library community.
During my discussions with Ex Libris, it has also become very clear that both companies share the same passion for openness, community collaboration, and joint work with partners and vendors in the library and academic ecosystem.
What should you expect?
On a day-to-day basis, it’s business as usual. You should continue to communicate with Innovative directly. All of our products will continue to be supported and enhanced, and your point of contact is not changing so please continue to engage with the Innovative team as you always have.
The acquisition is expected to close in early 2020, subject to obtaining the relevant regulatory approvals. Once the acquisition has closed, our staff will become part of Ex Libris and ProQuest. We will gain a long-term owner with the financial resources to invest in our products, services and people and a proven commitment to innovation and serving library needs.
Until the acquisition closes, the companies will remain and operate separately.
Our story continues…
Innovation is in our name, our heritage, and our future. Joining forces with Ex Libris, a company as passionate about the prosperity of libraries as we are, will lead us into the next chapter of our story.
I want to take this opportunity to thank each and every one of you for putting your trust in the company. We are all driven to make libraries better. This commitment is stronger than ever during these exciting times.
Chief Executive Officer