With apologies for cross-posting - the list may be interested in this news;
further information is available at www.publishingtechnology.com. Please do
not hesitate to contact me or our customer service staff with any queries.
VISTA and Ingenta merge to create Publishing Technology plc
/New company will unite print and online publishing and be the largest
provider of specific software solutions to the publishing industry/
VISTA International, the leading global provider of software systems and
support services for the publishing industry, and Ingenta, the technology
provider that connects the publishing and information industries, today
announce that they have agreed to merge to create Publishing Technology plc,
which will be the largest provider of publishing-specific software solutions
to the publishing industry.
By combining VISTA's author2reader™ systems, which cover the complete print
publishing supply chain, and Ingenta's online publishing and internet
expertise, Publishing Technology plc unites print and online publishing
services to provide an unrivalled proposition to publishers. Publishing
organisations, both large and small, can improve their bottom line by
integrating offline and online content, reducing production and distribution
costs, achieving faster speed to market, creating new products and boosting
online and digital revenue streams. Ingenta and VISTA's existing business
brands, such as VISTA, IngentaConnect, author2reader™, Heron and PCG will be
retained.
George Lossius, VISTA CEO and CEO designate of Publishing Technology plc,
commented: "As electronic products continue to grow in importance to
publishers we believe that they will be seeking to invest in the
technologies that will harness both their print and electronic products. We
believe the industry is looking for a market leader to provide the necessary
software products and services and Publishing Technology plc will meet this
demand."
Publishing Technology plc will employ approximately 180 people across North
America and Europe. The company will have over 350 publishing customers,
including eight of the ten largest publishing houses in the world, such as
Hachette, Random House, Penguin, and Reed Elsevier and, unlike large
international ERP providers, the company will deliver configurable
publishing-specific software solutions tailored to its clients. The company
will also have 1,000 academic and corporate research library clients, such
as Louisiana State University Library and GlaxoSmithKline's research
library, and a number of multilateral institution clients, such as the World
Bank, the IMF and the OECD.
The Boards of Ingenta and VISTA, with the support of the VISTA shareholders,
have entered into an agreement that is expected to complete during February
2007, subject only to Ingenta shareholder approval. Under the terms of the
definitive agreement, the companies will start operating as a combined unit
from today, and on completion Ingenta will be issuing shares and loan stock,
and the current VISTA shareholders will hold approximately 60% of the shares
in Publishing Technology plc.
Blue-chip institutional shareholders in the new company include Cazenove and
Invesco.
George Lossius, VISTA CEO and Publishing Technology plc CEO designate
comments:
"Publishing Technology plc will be the largest provider of
publishing-specific software solutions to the publishing industry worldwide
and will provide a strongly integrated offline and online suite of products
and services that will be unsurpassed in the publishing systems market and
will help our publishing and library clients to operate more effectively,
efficiently and profitably."
Simon Dessain, Ingenta CEO and Publishing Technology plc COO designate,
comments:
"Both organisations have built up considerable brand loyalties within their
respective markets, and have strong reputations for delivering reliable
solutions to complex problems. Our combined product offering will capitalise
on our technological leadership and proven customer service record to help
publishers reduce production and distribution costs, achieve faster speed to
market, and create new products and revenue streams."
Martyn Rose, Chairman of Ingenta and Chairman designate of Publishing
Technology plc, commented:
"This is an exciting positive deal for both companies and for publishing
houses, who will be the main beneficiaries of the expanded integrated
offline and online services that Publishing Technology will offer. The deal
will capitalise on the strengths of both companies and result in a market
leader with very strong growth potential."
For further information please contact:
2nd February 2007
Richard Evans: +44 775 108 7291
Tom Nutt: +44 777 568 6706
The Communication Group plc: +44 20 7630 1411
At Ingenta: Charlie Rapple, [log in to unmask], +44 1865 397860
At VISTA: Morayéa Pindziak, [log in to unmask], +1 732-563-9292
About VISTA International
www.vistacomp.com
Founded in 1977, VISTA International is the leading worldwide provider of
solutions and services for the publishing industry to support the printed
publication process. VISTA has for 29 years been a partner to publishers,
distributors and booksellers supported by our systems throughout the world.
The company’s author2reader™ solutions fit all aspects of the publishing
value chain, from author care through production, rights and royalties to
warehouse and fulfilment – all integrated in an e-business environment. To
complement its comprehensive enterprise solutions, the full range of VISTA
services includes applications implementation, applications management and
hosting services, and publishing-specific business consulting, together with
lifetime customer support. VISTA has offices in Europe, North America and
the Asia-Pacific region.
About Ingenta
www.ingenta.com
Founded in 1998, Ingenta is the global market leader in the management and
distribution of published scientific, professional and academic research via
the Internet, and develops and maintains specialist websites and technology
services for publishers, self-publishing societies and libraries. The
IngentaConnect Division provides professional and scholarly publishers and
societies with data conversion, secure online hosting, access control and
distribution services. IngentaConnect provides libraries and information
professionals with comprehensive collection management and document delivery
options. The Information Commerce Division provides flexible infrastructure
and tools to enable publishers to repackage, bundle or price content online
at the click of a button. Ingenta’s collection of research content – 20
million articles from more than 10,000 online publications and 20,000 fax
and Ariel delivered publications – is accessed by millions of researchers
and librarians a month via ingentaconnect.com and other websites. Ingenta is
listed on the AIM market of the London Stock Exchange and has offices in
Europe and North America.
_______________________________
Charlie Rapple
Head of Marketing
Ingenta
Unipart House, Garsington Road, Oxford, OX4 2GQ
T +44 (0)1865 397860
F +44 (0)1865 397801
[log in to unmask]
www.ingenta.com/corporate
www.ingentaconnect.com
IngentaConnect: the home of scholarly research
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