ProQuest, a global leader in educational technology, and Atairos, an independent private company focused on supporting growth-oriented businesses, have announced that Atairos will acquire an ownership position in ProQuest. ProQuest will use the proceeds from the transaction to repurchase most of the shares owned by entities affiliated with the Merchant Banking Division of Goldman Sachs, which will retain a minority interest in the Company. Cambridge Information Group (CIG) will maintain its majority ownership of ProQuest.
CIG has been the majority owner of ProQuest since 2007, overseeing a period of growth through new product innovation and strategic acquisitions that have helped ProQuest customers respond to changing environments.
Along with its SaaS software company Ex Libris, ProQuest is building on a track record of innovation and expanding its broad portfolio of content and technology solutions. A variety of these new products help universities streamline workflows, make data-driven decisions and boost the productivity of their libraries, students and faculty. The investment from Atairos validates the long-term commitment ProQuest and Ex Libris have to solutions such as ProQuest One, Rialto, Alma, Summon, Primo, Esploro and Leganto.
ProQuest’s management team, led by CEO Matti Shem Tov, will all continue, and the Company’s strategy of innovation on behalf of better research, better learning and better insights remains unchanged.
The transaction is expected to be completed in the coming months, following satisfaction of customary closing conditions and receipt of required regulatory approvals.
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