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Cambridge Information Group to acquire ProQuest Information andLearning
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- Subject: Cambridge Information Group to acquire ProQuest Information andLearning
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- Date: Fri, 15 Dec 2006 10:56:29 -0500 (EST)
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CAMBRIDGE INFORMATION GROUP ANNOUNCES AGREEMENT TO ACQUIRE PROQUEST INFORMATION AND LEARNING
New Company's Leadership to Include Marty Kahn as CEO, Matt Dunie as President
CSA Public Relations
BETHESDA, Maryland - December 15, 2006 - Cambridge Information Group (CIG) announced today it has entered into an agreement to acquire ProQuest Information and Learning, a segment of ProQuest Company (NYSE: PQE), for approximately $222 million.
Under the agreement, CIG will combine its Bethesda, Maryland-based CSA subsidiary with Ann Arbor, Mich.-based ProQuest Information and Learning to create a new, privately held independent company. The new company plans to continue operations in both locations.
Both CSA and ProQuest offer libraries and their users access to high-quality electronic resources. CSA and ProQuest will serve a combined customer base of more than 25,000 library customers.
CSA's products include CSA Illumina, the platform from which more than 100 scholarly databases in the natural sciences, social sciences, arts and humanities and technology fields are made accessible; Ulrich's Serials Analysis System, a powerful tool for library professionals who need to identify, analyze, evaluate and create reports about the library's print and electronic serials holdings; and the recently launched CSA Illustrata, which permits searching and retrieval of charts, graphs, illustrations and their captions within articles and documents.
ProQuest provides global access to one of the largest online content repositories in the world. It is best known for its extensive collection of business, economics, general reference, genealogy, humanities, social sciences, scientific, technical and medical content. ProQuest's product lines include Chadwyck-Healey(r), a collection of more than 40 extensive reference resources of the world's literature; UMI(r) microform vault, the largest commercially available microform collection in the world; ProQuest Digital Dissertations; Serials Solutions; and ProQuest Historical Newspapers(tm), an archive of 14 million pages dating as far back as 1764 which includes The New York Times, The Wall Street Journal, The Washington Post, The Christian Science Monitor, The Los Angeles Times, The Chicago Tribune, The Atlanta Constitution, The Boston Globe and The Hartford Courant.
Andrew M. Snyder, president of CIG, said, "Combining ProQuest's unparalleled collections with CSA's own rich content will enable us to further build upon our mission of delivering an exceptional research service. The new company will leverage deep content sets with a history of innovative product development to bring the community of libraries, researchers, faculty and students one of the most extensive electronic resources available."
After the transaction closes, Martin Kahn will serve as CEO of the new company. He will relocate to Ann Arbor, Mich. A seasoned information industry executive, Kahn is the former chairman of business and financial information aggregator OneSource Information Services, Inc. He also served as chairman of Ovid Technologies, Inc., an aggregator of medical and scientific databases and full-text journal articles and as president of BRS Information Technologies, Inc. Kahn earned an MBA from Harvard Business School and a BA from Yale.
Kahn said, "I am thrilled to have the opportunity to lead this exciting new company. Both companies have for many years dedicated themselves to serving the needs of librarians, scholars and students. We are committed to building on those traditions to create a great company for many years to come."
Matt Dunie, currently president of CSA, will serve as president of the new company. Dunie commented, "The ProQuest Information and Learning and CSA products are complementary. We believe that both companies share many values - especially future."
David "Skip" Prichard, currently president of ProQuest Information and Learning, will be an active contributor to the transition process. After the transition is successfully under way, he plans to pursue new career opportunities consistent with his interests and leadership experience.
Prichard said, "I believe the combination of CSA and ProQuest Information and Learning will be a successful venture and an important contributor to the library community. Both companies have a strong heritage, a deep sense of responsibility to the materials we present and an obligation of excellent
About Cambridge Information Group
Cambridge Information Group (CIG) is a privately owned group of information services companies and educational institutions located around the world. CIG's operating companies include: CSA, R.R. Bowker, RefWorks and the Sotheby's Institute of Art. CIG is also the largest shareholder of Navtech, Inc. ("NASDAQ:NAVH.OB").
CSA has been an innovator and leader in publishing and distributing quality abstracts and indexes for more than 30 years. A worldwide information company, CSA's products serve as a guide to researchers, faculty, librarians and students enabling discovery and aiding the identification, management and organization of quality information. CSA specializes in publishing and distributing, in print and electronically, more than 100 bibliographic and full-text databases and journals in four primary editorial areas: natural sciences, social sciences, arts & humanities and technology. CSA is headquartered in Bethesda, Maryland and has offices throughout the U.S., Canada, Latin America, Australia, Hong Kong, Japan, Europe and the United Kingdom. Researchers in more than 4,000 institutions worldwide use CSA information resources and CSA's print journals are used in more than 80 countries. For more information about CSA, visit www.csa.com.
About ProQuest Information and Learning
ProQuest Information and Learning is a world leader in collecting, organizing, and publishing information for researchers, faculty and students in libraries and schools. It is widely known for its strength in business and economics, general reference, genealogy, humanities, social sciences and STM content. The company develops premium databases comprising periodicals, newspapers, dissertations, out-of-print books, and other scholarly information from more than 9,000 publishers worldwide. Users access the information through the ProQuest(r) Web-based online information system, Chadwyck-Healey(r) electronic and microform resources, UMI(r) microform and print reference products, eLibrary(r) and SIRS(r) educational resources, and Serials Solutions e-resource access and management solutions. ProQuest(r) Smart Search was named "Best Specialist Search Product" by the International Information Industry Awards in late 2005. For more information about ProQuest Information and Learning, visit www.il.proquest.com.
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