Rumours of a sale had been circulating for some months with China’s Invengo – specialists in RFID – widely tipped to win the race to seal the deal.
The new company becomes easily the largest supplier of library self-service and security products in the western hemisphere and by combining the already established 3M’s Cloud Library with Bibliotheca’s recently announced Opus product, the enlarged company is likely to provide stiff competition in the e-lending sector for current market leader Overdrive – which announced its latest software product to the UK market only this morning.
Two separate deals – one for North America and another for the rest of the world – have been signed with Bibliotheca acquiring both staff and assets at 3M’s headquarters in Minneapolis.
One consequence that will be of especial interest my colleagues at Book Industry Communication (BIC) will be the potential international boost that this gives to their recently launched Library Communication Framework (LCF). Bibliotheca has always been one of the keenest supporters of LCF from the project’s inception and I am assured that this is set to continue.
In a follow-up to this announcement the newly merged company issued a press release to coincide with the opening of the Frankfurt Book Fair reassuring clients that they remain committed to growing Cloud Library.