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ABRY Partners Supports Cambridge Information Group in Acquisition of ProQuest Information and Learning
BOSTON (February 12, 2007) - Supported by ABRY Partners, LLC,
Cambridge Information Group (CIG) closed today its previously announced
transaction with ProQuest Company (NYSE: PQE) and acquired ProQuest
Information and Learning. 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,
ProQuest-CSA.
The transaction, valued at $222 million, was backed by an equity
investment in ProQuest-CSA from ABRY. Morgan Stanley Senior Funding and
Goldman, Sachs Credit Partners L.P. arranged the financing for the
transaction. ProQuest-CSA will serve a combined customer base of more
than 30,000 institutional customers and their users, providing them
with access to high-quality information resources. The company will
continue operations in both Ann Arbor and Bethesda.
ABRY Partner Erik Brooks said, "We are delighted to partner with CIG
and support their strategic acquisition of ProQuest Information and
Learning. We have extensive experience investing in the information
sector and look forward to working with CIG to grow and expand
ProQuest-CSA’s presence in the library market. We are confident that
the newly merged company will lead the online information marketplace
with a customer-centric focus and an incomparable level of service."
CIG President Andrew M. Snyder said, “We are excited to welcome the
employees and customers of ProQuest Information and Learning.
ProQuest-CSA will continue to serve its existing customers and users,
and will begin pursuing a combined vision of offering an unparalleled
information resource to the community of libraries, researchers,
faculty and students.”
Marty Kahn will join ProQuest-CSA as the new CEO. Kahn was the
former chairman of business and financial information aggregator
OneSource Information Services and before that he served as chairman of
Ovid Technologies, Inc., an aggregator of medical and scientific
databases and full-text journal articles. Serving as president of the
new company is Matt Dunie, who previously served as president of CSA.
About ABRY Partners, LLC
Based in Boston, Massachusetts, ABRY Partners invests in media,
communications and information industries and enjoys a position as one
of the most experienced and successful media-focused private equity
investment firms in North America. Since 1989, ABRY has completed over
$18 billion of leveraged transactions and other private equity and
mezzanine investments in more than 450 properties. Extensive and
long-standing relationships with many different stakeholders in the
media and finance businesses allow ABRY to contribute significant value
to operating partners and portfolio companies.
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: ProQuest-CSA, R.R.
Bowker, RefWorks and the Sotheby's Institute of Art. CIG is also the
largest shareholder of Navtech, Inc. (Nasdaq: NAVH.OB).
About CS
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® Web-based
online information system, Chadwyck-Healey® electronic and microform
resources, UMI® microform and print reference products, eLibrary® and
SIRS® educational resources, and Serials Solutions e-resource access
and management solutions. ProQuest® 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.