7 January 2025
(From LibraryTechnology.org)
SirsiDynix has been acquired by Harris Computing, one of six operating companies of Constellation Software, Inc, a publicly traded company based in Toronto. It purchased SirsiDynix from ICV Partners, a private equity firm that has owned it since February 2015. Unlike private equity firms, Constellation does not sell the companies it acquires. It follows a strategy of acquiring businesses from founders or investors and holding them indefinitely.
The acquisition marks a definitive exit from ongoing cycles of private equity investment into a permanent position within a public company specializing in the administration of technology-focused businesses. SirsiDynix has seen two rounds of private equity ownership, including Vista Equity Partners (2006-2015) and ICV Partners (2015-2024).
As part of Harris, SirsiDynix gains access to additional technical and financial resources. Harris has deep experience in acquiring and strengthening technology companies. In contrast, SirsiDynix was the only technology company within the ICV Partners portfolio.
Details of the Acquisition
Through this acquisition, Harris gains full ownership of SirsiDynix from ICV Partners and all other minority investors. The board of directors representing the incumbent investors has been disbanded in favor of oversight by Harris business advisors.
The long-term commitment inherent in Constellation’s acquisition strategy reflects SirsiDynix’s position as a major competitor in the library technology industry with potential for long-term stability and potential for growth.
The transaction closed on December 24, 2024. Terms of the acquisition have not been publicly disclosed.
Read more (no paywall) https://librarytechnology.org/document/30893/sirsidynix-acquired-by-harris-computing